probably be only a couple of bucks. Gold and silver bullion banks will throw everything, including the kitchen sink, at the short side starting Monday morning. If they fail, we could see some real fireworks to the upside. I suspect, they will succeed in a small small way. Maybe gold gets driven down to 1265 and silver to 2o. BTW, this would set up the launching pad for the rest of the year if we were to get a small correction right here and now. Also, slw was pumped on CNBC and that usually means a bunch of newbies bought Friday. They will sell at the first sign of weakness this week which could cause the minor, but needed, correction. Good luck!
Being cautious is never wrong. (Some people just like to call names,...makes them feel important I suppose.) I sold a small amount yesterday and if it does drop a couple of dollars will buy more. If it turns out I sacrificed a little profit, that's okay.
True validation of silver shortages and future higher price targets would be no pullback opportunity to buy any cheaper than the vey shallow quick dips witnessed over the past 2 weeks. Too many looking for that pullback to buy. If all of this is real, it will be time to twist the knife and make them chase it.
I have made a ton with this advice. Sell the rhino horns and then buy back. Of course if silver goes ballistic, some chasing will be priced out. I just don't think it will happenthe next two weeks. I never underestimate JPM, HSBC and the fed when it comes to pushing silver down. We shall wee what happens.
The real challenge to share price stability is investment in some heretofore unknown manner in new silver streams, at some higher than $3.95 an ounce level and a bunch of cash and printed shares, at shareholder expense. That's the "danger", continued expansion, because the cost always comes out of current shares, diluted or not, and last time the buy accrued an income stream IMMEDIATELY, which is not necessarily reproducable every new acquisition. Understand, this is pure speculation on my part, but SLW does a couple deals per year, and I am waiting for the other shoe to fall soon.
Whether that annuncement, and bobble in the share price, is a one week duration event, one day, or a one hour blip remains to be seen, because SLW is real good at consumating share offerings and cash in a DAY--less time to react than it takes to mow the lawn.
Other than that, see the now typical one buck swing throughout the day, but as to shorts coming in? Any faltering will excite current shorts at silver $20 19 and so on, to bail as they called the downturn too early--and that is a mitigating force to a real downside.
I think the tidal wave up is just beginning with silver and gold at all time highs-and silver still lagging in its traditional ratio with gold-there is a whole field of believers that once high is broken, sky's the limit, as the elves in technical land have no upside experience, and consider this a breakout worth daytrading to the upside.
The next psychological point for "wait a minute" type thinking is $30 IMHO for the POSLW.
But if there is a deal announced, the bean counters could take two to three dollars off the top of this baby, for an indeterminant period of time.
Stay tuned. Stay frosty.