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North American Energy Partners Inc. Message Board

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  • chemaes44 chemaes44 Aug 7, 2011 11:47 PM Flag

    Silver and SLW

    silver opened one penny below the $38.95 price I gave, danced below it for about 1.5 hours and then took off upside.

    This is very bullish!

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    • I should point out, gapping up to my price target and opening at it is one of the most bullish tells you can get with my modelling.

      I see two scenario's potentially playing one has silver dancing at $39.43 tomorrow morning, the other has silver hitting $41.20 tonight before coming back to $39.88 by 8:30 tomorrow morning.

      These are the two highest probability scenario's but others could play out.

      • 1 Reply to chemaes44
      • Well things worked out and they didn't.

        It's 8:34 am and silver indeed did come very close to the $39.43 mark that I suggested last night in the one of two scenarios posted. So far it's hit 39.50 a couple of minutes ago.

        Now although one scenario played out there was a problem in how silver disconnected again with gold. At 1:00 am when gold was breaking through $1700, silver should have made a move toward $41.20 or so. The fact that it didn't and, I feel gold is getting toppy here and, the gold:silver ratio is not favoring silver by dancing right around a couple of significant moving averages all suggest caution instead of bullishness.

        $39.43 needs to hold and I'll make my decisions after watching how well it holds or doesn't. I am slanted much more bullish than bearish, but with caution because $39.43 is the test.

 
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