Silver Exploration plays
#1
Posted 06 October 2005 - 07:58 AM
http://bigcharts.mar...&mocktick=1.gif
http://bigcharts.mar...&mocktick=1.gif
http://bigcharts.mar...&mocktick=1.gif
There are many others, but if these things are getting perky, it is a sign of things to come.
Also long CDE, MGN, WTZ from yesterday. Steve Saville talked about all three today and can see the coming bullish move in silver. Interesting that he was quite bearish the metal, but has done an about face in recent weeks.
cheers,
john
#2
Posted 06 October 2005 - 12:35 PM
#3
Posted 06 October 2005 - 01:30 PM
#4
Posted 06 October 2005 - 03:17 PM
#5
Posted 06 October 2005 - 05:54 PM
I have no strong feeling about the HUI, short-term, after the close. We do have a higher bottom, and I like the last 25 minutes of trading. Yet it could just be another move up like we got from the morning low, forming a zig-zag where if the second leg up equaled the first, then 244 would be targeted, and that's about where we closed on Monday and opened Tuesday, as well as being blue point "B" in the first chart -- a normal stopping point for many such short-term rallies.
A few years back I read that the capitalization of Exxon was as big as that of all US gold stocks (or was it all gold stocks in the world?) combined. It doesn't take much of an outflow from other stocks in general to move gold & silver stocks a LOT, if that's what people are buying with the money. I hope that happens, but for now I'm pretty pessimistic that we'll get past that 244 level soon, like in the next week.
Best,
Doug
#6
Posted 07 October 2005 - 04:38 PM
Doug.It was a pretty crappy day, all in all, considering.... I posted this chart in the afternoon on the FF board, postulating that even though we made a nice ABC into Wednesday's close, the correction might not be over yet, per the drawing, where we'd be about at the pinkish-purple "O."
I have no strong feeling about the HUI, short-term, after the close. We do have a higher bottom, and I like the last 25 minutes of trading. Yet it could just be another move up like we got from the morning low, forming a zig-zag where if the second leg up equaled the first, then 244 would be targeted, and that's about where we closed on Monday and opened Tuesday, as well as being blue point "B" in the first chart -- a normal stopping point for many such short-term rallies.
A few years back I read that the capitalization of Exxon was as big as that of all US gold stocks (or was it all gold stocks in the world?) combined. It doesn't take much of an outflow from other stocks in general to move gold & silver stocks a LOT, if that's what people are buying with the money. I hope that happens, but for now I'm pretty pessimistic that we'll get past that 244 level soon, like in the next week.
Best,
Doug
Thanks for your take on mining stocks. I'm with you here. Expecting more pullback because i think gold has some more downside . David..
#7
Posted 07 October 2005 - 05:03 PM