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« Silver Wheaton Corporation Hits our Target of $0.20 per share | Main | Silver Wheaton Corporation: In Anticipation of Good results »
Monday
Nov082010

Silver Prices Sparkle Once Again

Silver Chart 09 Nov 2010.JPG



Silver prices are just sparkling as this chart clearly shows with todays advance adding $1.02 for a gain of 3.82% - so put on a big smile on your face and walk around your place of toil and add a little cheer to everyones day, share your success with them, add to the feel good factor, it just might give them a lift too.

Well, the technical indicators are once again slap up against the ceiling suggesting a breather could be on the cards. The RSI is standing at 81.10 and under normal circumstances we would be looking to exit as this chart is suggesting. However, if you study the chart, you can go back to early September and see that the RSI was suggesting an overbought situation then and at that time silver prices were around the $20.00/oz level. So here we are at $27.74/oz, the point being is that the fundamentals are overriding the technical indicators, at least for the time being. This is something that by our actions and our words we said would happen. We are on course for $30.00/oz silver and we expect it to get there fairly soon as the economic climate has not suddenly improved and the actions of our political masters continues down the road of currency destruction, which is a boost for all hard assets.

Masters of the universe they are not, so hang on to your core holdings, things are going your way and you need to let the winners run. Also try and relax,the best decisions are usually made by those with a cool head.


Please dont forget to take a look at our options trading service, www.skoptionstrading.com where our total of closed trades is 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)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

Silver Companies list of todays gains 09 Nov 2010.JPG

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Reader Comments (2)

Good morning Gentlemen:
Indeed good times to be a silver bug...yet all around me people in my circles as a rule continue to behave like proverbial Lemmings, continueing to ignore the obvious. Not all, but the large majority. The recent election results here speak volumes, yet here in Illinois we continue to allow free medical treatment for...foreign immigrants...many who can't speak a freaking word of english...this is FIRST-HAND experience...many who get $1000's of tax-payer dollars in medical care, repeatedly, free and clear...while programs, such as transportation assistance to the elderly, pre-school programs for the working poor, to name just two get cut due to funding problems. $13 billion in the red here. And yes our governor, voted back in is going to raise state income taxes. Got to fund that sweet pension system, yes sir....

Silver's just getting started...

Excellent informative straight-forward newsletter as usual...

Best regards...Snakeman Scott

November 9, 2010 | Unregistered Commentersnakeman

You seem to have two prices for SLW
Using the lower price;--- 1st HL 2nd EKX 3rd SVM 4th SLW.
Who Cares!!! they are all great , just hope we can spot the sell point

November 9, 2010 | Unregistered Commentersiver bug

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