Recent

% | $
Quotes you view appear here for quick access.

Silver Wheaton Corp. Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • MCROC43 MCROC43 May 18, 2012 8:32 AM Flag

    Twas nice while it lasted

    You're right, I bought this stock for the 3-5 year range. Yes, I don't like these big swings, but long term we'll be winners. Go SLW!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hey lance,

      Good to see you too. yeah, the bickering and noise got to me. I took up reading books instead of research, and been jogging. Proud to say I can run 6 miles now which is double where I started and just finished Steve Jobs book. His reality distortion field sounds like a clinical case of bipolarism. His book does capture what it's like in software, brought back bad memories of rough nights

      In my opinion, silver and gold wanted to stop falling several weeks ago but the dollar index rise forced its direction lower. Once certain technical prices on silver and gold were breached automatic stop selling created new resistance levels that in addition to the dollar rise left not enough time for bull's to chip away at the new stop loss resistance zones.

      I can see that I left out a variable when I gave my price prediction as 29.02. Had I plugged it in it would have given 28.89 as the price, as was the high that day. As a result, exited my contracts in error when it started to fall back hard from
      28.89.


      So where now: there's a bit of equalibrium with the prices right now. Getting above 28.87 takes the price to 29.19, while falling below 28.56 takes the price to 28.34. Oh yeah, the running and reading have helped my brain out a lot...i was able to further improve the accuracy of my system, so these numbers are pretty solid for the next 24 hr that trading resumes Sundays night.

      Not sure if this will sound like a contradiction for the dollar...it's rise triggered a bullish sentiment but it needs a breather. Accepted thinking over the last ten years would be that as it takes a breather gold and silver will have time to rise a little, but as soon as the dollar shows it is ready to resume rising, once refreshed, Au and Ag may resume their fall.

      There's a lot of debate on whether gold and silver will fall if the dollar starts rising again. I know, we hear this debate over and over and it never holds true. This time, seen a lot of big money fund managers say "gold and silver don't have to fall if the dollar is rising, they can go up together". And, some non pm traders I've read are talking about pm' positively when it's always been negative. Forget the fact their statements aren't close to the reality of what traditionally happens, the fact is enough of them are saying it with statements like "if I'm a Greek who just took out nearly a billion dollars out of their bank, what do I wanted the denomination to be? Euro which will tank if greece exits, dollars that have their own set of problems or pm's or some combination of?" there is some precedent that when silver was hitting near 50 similar chatter occurred with these folk...so, we wait and watch..... I'm about to start my next book so take'r easy but let the record show, after a several month absence Chemaes reappeared and posted on May 16 before mrkt open I think, the day pm's had a turn up. Although I didn't post it was a turn, taken with the stuff I've written in the past, gotta ask yourself "do I believe in coincidences"..Gimme some love...lol.

      Good trading
      Chemaes

 
SLW
26.39-0.43(-1.60%)10:43 AMEDT