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Silver Wheaton Corp. Message Board

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  • the_bullionaire the_bullionaire Aug 7, 2007 4:19 PM Flag


    SLW 13/31 up .32 cents on 2.4 million shares. Again light volume. The technicals are picking up a little steam, but the downtrend line is still in force on the hourly for the past 2 weeks. The high today bumped right into the overhead resistance that will need some grinding to work off. There are still too many willing sellers coming in at this point more than willing to lighten up on their shares. But it's due to the weight of the general market atmosphere right now. Fear is dominating the markets and these kind of shifts always take time to play out. Things remain oversold, but oversold markets can drag on beyond belief at times. So patience is needed, especially when the FED as expected, did nothing. When they finally do cut those rates, it will signal the beginning of the end for the dollar, and everything gold and silver will be king. They can print just so much money and try to prop up the dollar for so long, before they have no choice but to cut rates anyway, and the rest will be history.

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