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Tuesday
Oct172006
SILVER WHEATON: A quick review
Tuesday, October 17, 2006 at 09:28AM
Third quarter results to be announced 02 November 2006 and they should be good. We are holders of this pure silver play and intend to hold for some time to come.
As we have written here before Silver Wheaton is a new innovation in that it is a silver only company and does not own or operate any mines. For more detailed information about SLW please back track through our website as we have covered it a couple of times.
Today we want to take a quick look at the charts. As you can see SLW is holding above its own 200 DMA and putting in a strong recovery from the recent sell-off. The other technical indicators are starting to look a little overbought which could send the stock sideways for awhile but we don’t think that this anything too really lose sleep over. The current buying level is a great opportunity to make an entry or to accumulate more of this stock now. We doubt that once it rises above the $10.0 level we wont see that again in this bull market.
The silver chart itself is also showing considerable strength, which gives us much comfort when buying silver stocks. We are looking for $15.0 to be hit in the near term.
17 October 2006
As we have written here before Silver Wheaton is a new innovation in that it is a silver only company and does not own or operate any mines. For more detailed information about SLW please back track through our website as we have covered it a couple of times.
Today we want to take a quick look at the charts. As you can see SLW is holding above its own 200 DMA and putting in a strong recovery from the recent sell-off. The other technical indicators are starting to look a little overbought which could send the stock sideways for awhile but we don’t think that this anything too really lose sleep over. The current buying level is a great opportunity to make an entry or to accumulate more of this stock now. We doubt that once it rises above the $10.0 level we wont see that again in this bull market.
The silver chart itself is also showing considerable strength, which gives us much comfort when buying silver stocks. We are looking for $15.0 to be hit in the near term.
17 October 2006
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