Soooo Close - SilverSeek.com

- CLICK HERE TO VISIT THE NEW SILVERSEEK.COM -

Live Spot Silver

Navigation

Soooo Close

By: Charleston Voice

-- Posted 17 May, 2007 | | Discuss This Article - Comments: Source: SilverSeek.com

They'll come. Just a bit longer. Those that ran away in May will be gravely disappointed. But, they'll return to buy back the same stocks they sold, but be paying a higher price to get them back.

Yesterday's action in the SLV could very well have been an exhaustion bottom. Don't hold me to it as we could see some follow thru today and early next week. I feel that with yesterday's volume spike (759.4K shares) we're getting our bottoming signal. Look at those previous red vertical volume spikes for past bottoms. But, we still want to see SLV close above its 8-dma (blue line), and for added measure see the 8-dma cross over the 13-dma (red line).

As for the HUI. Adam Hamilton reminds us that the HUI relative to its 200-dma is an indicator to follow. When it's 40% or so above its 200-dma it's in a sell zone and when 95% below its 200-dma, it's in a buy zone. Yesterday, with the HUI's low at 321.23 we saw this ratio (321.23/330.99) touch 97.1%. The Ratio closed at 98.3. If you're one of the prescient minority and sold your metals stocks in mid-April then you should be getting edgy, and - anxious!

I am not one of those with the prescient forecasting gift, and am fully invested. My portfolio of predominantly silver jrs/explorers touched a cyclical peak on 4/16. As of the close yesterday I was down 8.3%. On a closing basis over that same frame the HUI was down 11.3%.

I guess it's just a matter of how long you can hold your hand over the flame.

-- Posted 17 May, 2007 | | Discuss This Article - Comments:

This article is brought to you by the Charleston Voice E-mail List. To subscribe FREE to the distribution list, send an e-mail to: bilrum@knology.net with 'SUBSCRIBE' in the subject line.

Last Three Articles by Charleston Voice

Silver on the See-Saw
22 September, 2007

Silver COTs & Barclays
17 September, 2007

Boil Them in Oil Over a Slow Fire
5 June, 2007
Charleston Voice - Article Archive List

SilverSeek.com is presented to you by:

The content on this site is protected by U.S. and international copyright laws and is the property of SilverSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on SilverSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Disclaimer

The views contained here may not represent the views of SilverSeek.com, its affiliates or advertisers. SilverSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of SilverSeek.com, is strictly prohibited. In no event shall SilverSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.