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Silver Wheaton Corp. Message Board

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  • quailrunrd quailrunrd Nov 1, 2010 3:37 PM Flag

    Taking some money off the table

    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.

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    • Quail - an excellent post of summary. I am still holding a long term core, smaller than YDM, (if he is still holding) regardless of the dollar - ( credit default swaps), DOW and the FED meeting. I really don't care about shorter term profits. Longer term it will be about debt, earnings, future QE inflation, consumer and employment. Well done Quail

      • 1 Reply to newscentral2002
      • Thanks, News! By the by, I trade from a self-directed IRA acct which is not impacted by taxes. I consider that a plus. Furthermore, I'm always hesitant to trade short term as I am still haunted from the losses I suffered during my day trading days of the dot-com bubble. Additionally, I'd hate to lose out in future long term gains in PM investments which I believe are baked into the cake. And yes. I will buy back at higher levels if my near term assessment proves to be incorrect. However, I will never sell my physical.

        In any event....GLTA.

    • My advice is that if you take a profit on a portion of your SLW, and nothing wrong with that, spend some of it on having a good time. One thing they can't take away from you: Good memories.

 
SLW
19.46+0.22(+1.14%)Apr 17 4:03 PMEDT