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Silver Wheaton Corp. Message Board

  • yourdeadmeat69 yourdeadmeat69 Feb 21, 2011 9:18 AM Flag

    2.2% POS Spot pop = A BUNCH for SLW

    I was going to say a buck and a half, but nobody likes 2X up 3X down as an indicator of the POSLW vs POS, so I stopped publishing keeping track.

    Somebody said this was a textbook blowoff top, and I think he is right.

    They may have to rewrite the textbook. This one has, with the exception of the financial disaster of Nov 2008 and March 2009, has been blowing about two years now.

    There are some cracks in the commodity bubble coming. One such is BAL the price of the cotton ETF, which looks like it is taking a bath after a huge runup.

    And we are Middle East unrest specific, so that is a singular event which may take two years to resolve, but is singular.

    So, for now, I am letting caution out the door. We are in for a monster upchuck here, and once over about $42, no resistance.

    If you buy physical, remember to keep your mouth shut where you store it. I think that is good advice no matter what you have that is exotic and might attract attention, high price car, antiques.

    They are for your enjoyment, not to make the neighbors so green they pass your vulnerability around like a $2 hooker.

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    • For those who believe in 2X at these levels, we are looking at ANOTHER 7% run tomorrow if these levels hold.

      Bush wanted the Middle East to fall arising from the establishment of a free Iraq. These people are not from Western Civilizational molds, there are tribal wars going back to the dawn of man.

      Dictators suck, but in a world that knows nothing but obiesence to authority, turning them into Nintendo freaks is going to take more than semi nude pictures of Chobot or Munn and Nintendo games.

      Gold is heading for $1500 an ounce this week, and I wouldn't be surprised to see silver approaching $40 at the rate it is exploding.

    • i think the inflation trade is just starting, and as far as the blow off top forming... that's up for debate, 11/09 and to a lesser degree 12/07 slw saw a text book blow off top, please check your chart... usually (not always) a blow off top leaves a red or empty candle on your chart but friday we did have the big pop in volume but no true blowoff was seen, any chart tech will tell you with the full green candle you had buyers stepping in, no big sellers coming in to bring price down or cause the "blow off" you spoke of... charts are not perfect but if we do not get the big drop tuesday and volume continues high w/ another green bar... shorts better run like ell because what you are calling a blowoff top becomes the first step in big price increases... gl and watch your charts this week, time will tell..

    • Dont think cotton is being hoarded like silver..LOL

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