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« Golden Buying Opportunity, With a Silver Lining! | Main | Silver – Euphoria »
Wednesday
Aug062008

SLW: BUY!

Silver Wheaton (SLW) has been severely oversold in recent trading and so we are taking this opportunity and have increased our position by 50% and therefore are hereby signalling a BUY on this silver stock.

Having placed our orders at $10.50, we eventually had to bite the bullet and pay $11.43 for the stock as it gained during trading, which we still consider a handsome bargain.
The RSI for SLW had fallen below 30, something that has only happened on a few occasions over the past few years, and we took this as a solid technical buy signal.

Both silver and gold are both oversold and present great buying opportunities, perhaps the last of the summer, BUY!


We also purchased gold call options today, please click here the link to see details.

These are fast changing times and its essential that you stay up to date with what is going on in the market. For our latest commentary and trading signals on gold, click here to subscribe to The FREE Gold Prices Newsletter and click here for The FREE Silver Prices Newsletter.

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Reader Comments (6)

Investors looking to buy Silver Wheaton should also consider buying Silverstone Resources (SST on the TSE Venture / SVRCF on the OTC). Silverstone has the same business model as Silver Wheaton. Compared to Silver Wheaton, Silverstone is undervalued in every way (EPS, P-E ratio, silver resources, market cap relative to production, etc.) Silverstone's silver sales are set to jump 50% in 2009. Silverstone is also looking at moving to the main TSX exchange where a stock buyback is likely to be employed as is already the case with sister company Capstone Mining (CS: TSX)

Website is: www.silverstonecorp.com

Disclosure: I own shares in SLW and SST.

August 7, 2008 | Unregistered CommenterRW

You have been a great help to me over the last year or so now I'm going to help you. BUY GSPG NOW. All the best
Mike

August 7, 2008 | Unregistered Commentermike trusky

Mike,

We are glad to have been of help to you, thats what we're here for after all!
Thanks for the tip on GoldSpring, we will take a look at the company.

RW,

We have met with the team at SST and are looking into the company, its certainly a good business model. However our primary concern with any precious metal stock is that it offers leverage to rising metal prices and we would have to be sure that SST offers this before we become buyers.

Thanks for all your comments!

August 7, 2008 | Unregistered CommenterSilver Prices

Hey Guys,

Thanks as always, but im going to wait a while longer for my second purchase. I think oil will drop to below a hundred which will send gold and silver lower. It seems to be following oil, and there is a lot of pressure on oil to drop right now. Also, the dollar is gaining which also will put pressure on the metals. Who knowsw. I could missa stong up move. WIll see....Gary

August 8, 2008 | Unregistered Commentergary

Hello. I have never bought an option. So I want to know if when you buy an option for around ten or eleven dollars, but only put up say $2.50, do you only buy one or ten or 100? This may seem silly to you, but if you don't know, you just don't know...ER

August 11, 2008 | Unregistered CommenterEarl Ranney

Gary,

Best of luck with your trading, please let us know how you get on!

ER,

We suggest you read some of the many online guides to the basics of options trading, this will help you a great deal in your understanding of how they work.
When we buy an option we pay a price per share or specified amount of commodity deliverable in the contract.
For example on the 24th July 2008 we made a purchase of the JAN09 Call Options for Kinross Gold Corp at a strike price of $20.00, paying $2.50. As the contract states that 100 shares are deliverable in each contract, the total cost of one contract is $2.50 x 100 = $250
Hope this helps!

August 11, 2008 | Unregistered CommenterSilver Prices

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