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« Silver Wheaton Corporation Call Options Up 212% | Main | Silver Wheaton Corporation Call Options Up between 58% and 75% »
Friday
Oct292010

Silver Wheaton Corporation (SLW) Up 4.36% Today

SLW Chart 30 October 2010.JPG


As we mentioned in our update yesterday, this is just the 'pop' that we needed to finish the week well above the $27.00/oz level, which had been acting as resistance to Silver Wheaton's progress. So it gave us great pleasure to watch this stock close at $28.75, for a gain of $1.20, or 4.36%.

The chart is looking fairly good at the moment with the MACD being nicely positioned for a crossover that should also be positive for the stock. The one thing we dont like is the gap between the stock price and the 200dma, but we can live with it, for now.

This, of course, is all on the back of the progress being made by silver prices which closed at $24.72, for a gain of $0.72 or 3.00%. That would be a great move over a week, but this move took place in just one day. Where else can you get so much volatility and excitement crammed into such a short period of time. Earlier on the day over at The London Stock Exchange we watched as prices drifted lower, Fresnillo Plc., was down around 2% at one point. So, it was looking like another down day with the shorters winning the day, however, things can and did turn on a dime.

A quick look at position regarding our options play and we can see that they have improved dramatically and hopefully put a smile on your face too.

December 2010 $26.00 Calls @ $1.55, now at $3.60 for a gain of 136%
December 2010 $30.00 Calls @ $0.58, now at $1.44 for a gain of 144%

and

January 2011 $26.00 Calls @ $2.00, now at $4.15 for a gain of 106%
January 2011 $27.00 Calls @ $1.64, now at $3.50 for a gain of 114%.

We also acquired more SLW stock on 9th August 2010, for an average cost of $19.76 per share, which now stand at $28.75, giving us a paper profit of 45% in a little over two months, which is not a bad gain for a stock with such a large market capitalization. However, if you have something whose performance is better, then stick with it, otherwise give SLW some consideration.


Back to our latest venture which was the launch of an Options trading service we are pleased to report that it is going very well so its a big thanks to all those who have signed up for it and the supportive emails that you have sent us.

Our premium options trading service, SK OptionTrader, has opened and closed 12 trades in the last 6 weeks, banking an average profit of 70% on these trades.

This brings our total of closed trades to 38, with 36 winners. This means that a subscriber who had invested $1000 in each of our 38 trades would have banked profits of $15,636.00. We have just posted a set of charts demonstrating the importance of timing in any trade on gold-prices, please click here if you are interested.


SK Chart 23 Oct 2010.JPG


The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today?


Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.



To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

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Reader Comments (1)

Please note that we almost got the MACD crossover today as expected. Also SLW managed to finish slightly higher today despite silver prices finishing lower and in after hours trading SLW gained another $0.16.

November 1, 2010 | Unregistered CommenterSilver Prices

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