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« Endeavour Silver Corporation Up 16.75% Today | Main | Silver Wheaton Corporation Hits our Target of $0.20 per share »
Wednesday
Nov102010

Silver Wheaton Corporation: Stirred But Not Shaken

SLW Chart 11 Nove 2010.JPG

We kick off with a quick look at the above chart of Silver Wheaton Corporation (SLW) where can see that some semblance of order has been restored since yesterdays chaotic trading session on the NYSE, where the volume of shares traded topped 30 million. The technical indicators are still high but the pull back has taken some of the steam out of the RSI which now stands at 71.09.

The sudden drop in the stock price induced some profit takers to cash up and go and no doubt a number of stops were hit on the way down adding further pressure to the stock price. Yesterday we mentioned one of the reasons for the fall being the changes made to the margin requirements by the exchange, when this sort of thing occurs its usually takes a few days to work itself out before normal service is resumed. Well, SLW looks to have recovered fairly quickly with todays performance recouping most of the loses caused by the regulators new requirements. It is irritating for us to have to endure a rule a change in the middle of a game, but it wont stop this bull market going higher so proceed with all due care but do not get bullied into making massive changes to your investment strategy.

On the skoptionstrading front some of our 'stops' were triggered yesterday sending us back into cash with some good profits, we will update the chart on the skoptionstrading site this weekend.


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.



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Reader Comments (3)

Hello,

I paid $99.00 a week ago to subscribe to the options {silver} dealing system.

So far I have only been advised that I have joined,what is going on as I am only a learner & want to get on with buying some options,

Sincerely,

John Davies.

November 12, 2010 | Unregistered Commenterjohn Fairlie!dAVIES.

John,

Please be patient as we do not buy options everyday of the week and we certainly do not move until we see a trade that meets our criteria. We will be updating the chart on www.skoptionstrading.com this weekend as last week was a busy one us.

Rest assured as soon as we are ready to trade you will be informed.

November 13, 2010 | Unregistered CommenterSilver Prices

Team,

We have now updated the chart on www.skoptionstrading.com.

We have closed a total of 51 trades with an average gain of 46.89% per trade, in an average of just 44.8 days per trade.

November 14, 2010 | Unregistered CommenterSilver Prices

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