Seams like the last 3 days we have traded around $22 with some ups and downs that roughly correlate to noise from DC, which seems to be kicking the can down the road 3 months. I am wondering if any of the technical folks see any trends developing over the near and medium term. By end of year, I am fairly sure that PM and PM stocks inclunding SLW will be at a higher level, but have not got a clue about how much higher.
We need the bottom number and date to project any future numbers. EW suggest we must at least match the old highs, seems I did a fib extension of SLW and it was in the high 60's. bottom and a finish to the first 5 waves up will allow fib extensions and times to be estimated . If we hit a depression, industrial use would drop! Wave counts would still work, but could be very flat. Dollar destruction and depression . . . hard to figure, run away inflation another deal entirely, all have a chance to play out.