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Silver Wheaton Corp. Message Board

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  • mv_eric mv_eric Nov 1, 2010 12:41 PM Flag

    Taking some money off the table

    Ghosts have started to appear on this message board, the ghosts of those who sold SLW too soon!

    They haunt the board predicting the imminent decline of SLW that will let them buy SLW back at a price lower than their selling price. Their sad, weak voices bear witness to the fact that it's easy to sell SLW for a good profit, but its hard to buy back in.

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    • One does not become a ghost by harvesting some profits in a stellar stock such as SLW. I lightened up considerably in the first half hour of today's trading at $29.60. Even YDM sells his SLW from time to time.

      Long term investors of SLW who study the price of the dollar, precious metals, and of course SLW begin to see correlations in those prices. Additionally, inputs from respected analysts (who are not anti-PM's) also provide useful insights. Marc Faber has an excellent record of forecasting the markets whether it be bonds, stocks or commodities. At a conference in New Orleans this past weekend Faber suggested Bernanke, with all the "dove" governors on the voting FOMC would in all liklihood not engage initially in a massive QE2 launch but rather start out in smaller steps. If that is the case, Faber suggests that both equities and precious metal markets would be disappointed and suffer a short term marked decline. He also predicts the dollar is overdue for an upward correction. Faber, of course makes sense, and I suggest it would be unwise to ignore this advice.

      In any event, selling SLW today after such a stellar rise in the last week may or may not prove wise. But at least I have some additional dry powder which to tap into after the monthly jobs numbers are released on Friday. QE2 announcement on Wednesday will be the biggest event. I'm with Faber and a number of other currency analysts who believe the (trash fiat) dollar will rise on Wednesday thereby taking the PM's down. And that will be the opportunity to buy SLW back at lower prices.

    • Quail, I didn't say you were a ghost, but ghosts, like I described, do appear on this board.

      Yeah, ok, you think that you can trade in and out of SLW and thereby make a bigger profit. I salute you.

      I know, though, that I can't do that and that for every 5 traders who think they can do it, only 1 really can. Also, if not in a retirement account, taxes can kill you when you trade in and out but taxes on gains are deferred when you hold.

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