Silver Wheaton is the one that got away from me. One of the guys at our Atlanta traders gathering in January (I think it's time for another) was a raging bull on silver and convinced me that I had to get involved in silver. Shortly thereafter, on January 31st I found SLW and put this note on it: "watch for a dip... (unknown?) silver play". I guess the broader market's trading range lulled me to sleep b/c I missed the dip and never bought it. It's now up about 45% from where it was when I 'tagged' it and about 75% from the pullback low. (Ugh!)
So yesterday I was emailing with Karin and she mentioned that SLW was one of her favorite silver plays. She wanted me do chart it, so here it is:
As you see, it's a string, trending stock. I don't see anything for lings to worry about, besides it being a bit overheated in the short term. If I was looking to get long I'd try to catch it near that blue trendline or the 20-day moving average. Maybe I'll actually get in this time... :-(
