SLW running, up +10% on down day in silver stocks...
I'd keep in on your buy list on any pullback here:
From Wednesday...
SLW did breakout and is now off & running at $3.38 as I type this...
I've taken a little off of my trade from Wednesday morning, as
we did have a "gap up open" ...and we know what we do with all
gap up opens <vbg>.
But, I am still holding my main position.
$2.50ish bottom held 4 re-tests - so .80 cents downside to
one helluva lot of upside leverage.
SLW has 4 oz of silver per share, which makes SLW one of,
if not THE most levered silver play.
Hopefully, it pulls back, I never recommend chasing... and
this is month end on a holiday, and you often get funds
running a stock up on days like this. So waiting for a
pullback next week may be prudent.
But, this one may not pull back, so if do you enter, do so
with only a 1/2 position here, and put in a limit order in
the $2.50-70's for the final 1/2, if we re-test the bottom,
or get a pullback.
Let's see if we get a little pullback into the 1 pm, early
close. If it spikes into the close, it's a fund, or two,
running it up for month end...if that happens - wait
for a pullback next week....don't chase.
SOTB |
