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Silver Wheaton Corp. Message Board

  • crichton314 crichton314 Oct 9, 2013 2:13 PM Flag

    Short Covering?

    I'm not following the news today so don't know what / why SLW is moving the way it is. Just took a peak at daily price volume action on Yahoo minute chart & saw some interesting developments.

    -- The day opened with the usual torture & beating, Opening drop on volume.
    -- We hit some kind of bottom around 10:15 followed by a low-volume rally starting at 10:30
    -- The weak rally faded by 11:30 as there was no volume to support it. SLW drifted back to 22-20.20 area.
    -- At 1:30 we see sudden buying on volume, what a concept! I counted two big spikes +50K shrs.
    -- Right now (2:00) we're at 3.5M shrs so far today.
    -- In less time than it took for me to write this it appears we've hit break even & now going back in the red.
    -- @ 2:00, looks like we're trying to claw are way back to green again!

    What interests me is the sudden is that move from $22.20 to $22.70 that started @ 1:30 & the fact SLW still seems to be hanging around that area. Of course by the time anyone reads this, who knows where it will go?

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SLW
13.11-0.09(-0.68%)Jul 30 4:03 PMEDT