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Silver Wheaton Corp. Message Board

  • trade.real trade.real Jul 26, 2014 10:46 AM Flag

    simple ta...

    no EW #$%$
    SLW has crashed last 3 y with silver
    last 12 months it has consolidated 18 27 making higher lows..
    we can see that 27 28 is massive resistance,it failed 3 times already last 12 months,the thing i like this time is that it did not just crash back down form that level,buyers have stepped in,if we can break that then no real res till $40,small one around $33...
    I'M long SLW stock and calls,GDX GDXJ calls and stocks..
    I think the fed is behind the curve bigtime for the 1st time .

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    • At Safehaven punctuation commercial, Michael Noonan has an article "Gold And Silver - Use "Magic" Of Gold/Silver Ratio To Greatly Increase Your Physical Holdings" that has some interesting non EW TA at the bottom of the article. Bottom line for now is that gold is in middle of trading range and not a good time to buy. Silver is in lower half of trading range and in a downtrend, not a good time to buy. In the short term, Noonan may well be correct, but I am of the opinion that PM's will be trending up soon. I too am long PM's and PM stocks and Leaps to include SLW.

      • 1 Reply to sandybeachdave
      • you're right ,silver is still weak but silver miners have outperformed big time,more than the last 2
        tries at 27 28 for SLW for example,miners typically leadind a new legup for pm...
        If you check a chart ,you see that the last 2 tries at 27 28 have been sold dramatically and very quickly,not this time...
        I think we will know next 2 weeks if SLW hits 33 or 21....
        my bet is 33 but i could be dead wrong.i like price action and my gut tells me this time is the right one...

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