Judging from what many of these microcap exploration stocks are up to, I think a major move is now building in silver. I own or have already traded these.
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
Silver Exploration plays
Started by
SilentOne
, Oct 06 2005 07:58 AM
6 replies to this topic
#1
SilentOne
-
- Traders-Talk User
- 3,452 posts
Member
Posted 06 October 2005 - 07:58 AM
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#2
PorkLoin
-
- TT Member*
-
- 2,194 posts
Member
Posted 06 October 2005 - 12:35 PM
John,
If the commodities/metals/precious metals bull market keeps going, then I'd think that Silver would join in -- that it's overdue to gain some ground on gold. Not that it can't go higher, but the Gold/Silver ratio is huge. No guarantees, of course, but the leverage offered by silver and some of the stocks mentioned is attractive.
Best,
Doug
#3
dougie
-
- Traders-Talk User
- 9,071 posts
Member
Posted 06 October 2005 - 01:30 PM
one note of caution: silver does not fare as well in deflation as gold does according to some
#4
SilentOne
-
- Traders-Talk User
- 3,452 posts
Member
Posted 06 October 2005 - 03:17 PM
Hi all,
There was very poor action in the miners today. Very poor. We should have had much more umph if the metals are set to break to new highs.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#5
PorkLoin
-
- TT Member*
-
- 2,194 posts
Member
Posted 06 October 2005 - 05:54 PM
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
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
butchwax
-
- TT Member
- 60 posts
Member
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
PorkLoin
-
- TT Member*
-
- 2,194 posts
Member
Posted 07 October 2005 - 05:03 PM
David, you're more than welcome. I love talking about this stuff.
We almost got to that 244 level in the HUI. StockCharts has 243.43 as the day's high. Very interesting Monday coming up. Sure looks like an ABC 
up during the last two days, but we're making higher highs and higher lows....
I'm seeing a ton of green in the stuff I bought Wednesday. MGN up almost 9%, WTZ 6% blah blah blah... Tempted to sell Monday, at least some of it, but hate to -- I like to hold for weeks/months if not years. The US Dollar, the US debt, and inflation (which I think is accelerating even though not stated by the gov't), make my gut feeling to be "just hold this stuff."
Well, which do I go with, the gut or the charts? I may not be interpreting the charts very well....
Have to dwell on this until Monday.
Best,
Doug
up during the last two days, but we're making higher highs and higher lows....
I'm seeing a ton of green in the stuff I bought Wednesday. MGN up almost 9%, WTZ 6% blah blah blah... Tempted to sell Monday, at least some of it, but hate to -- I like to hold for weeks/months if not years. The US Dollar, the US debt, and inflation (which I think is accelerating even though not stated by the gov't), make my gut feeling to be "just hold this stuff."
Well, which do I go with, the gut or the charts? I may not be interpreting the charts very well....
Have to dwell on this until Monday.
Best,
Doug
