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Silver Wheaton Corp. Message Board

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  • lancekoliver lancekoliver Jan 23, 2013 10:39 PM Flag

    bull trap setup here

    Thanks for the laugh, chem, but while I believe 99.99% of the people posting on Yahoo don't know what they're talking about (and I'll include myself in the supermajority), you have earned a spot in the 0.01% with your past calls.

    This recent movement in silver has been hard to read, as you've stated yourself. I continue to expect this low-volume melt-up rally of recent days to correct and give me one more buying opportunity in the 28s, but the duration of this grind upwards has worn on my confidence in that plan, I admit. Long-term, I'm bullish, so I'm hoping to load up at lower prices. I don't pretend to catch the really short-term moves as you do.

    Good luck and as always your perspective appreciated.

    • Hey Lance,

      your words are kind, as always.

      You're absolutely right, this move has been incredibly hard to trade, incredibly stated again for effect.. My models haven't worked for a week. I'm eyeballing it and using my other trading skills on the fly.

      I don't normally talk about fundamentals but something is lurking in the background (non debt related crisis).

      28's in silver might be too low for now. Of course, it all depends on the dollar strength in relation to what the dollar does when/if it gets to 80.26. gold but more so silver leading, traded like a currency. I've been short since I started this thread and playing it by ear on when I cover. I think the cover will present itself sometime within the next 36 hours. my gut says somewhere in the $31.xx mid to lower. if the dollar gets above 80.26 you have to keep your short.

      too early to call

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