Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Webster Groves who wrote (13771)	12/2/2008 9:01:01 PM
From: SliderOnTheBlack	3 Recommendations Read Replies (3) \| Respond to of 50058

re: After Hours Action in SLW... John Najarian of OptionMonster.com was on CNBC's Fast Money and SLW was his featured pick. He cited the huge call volume that was noted in the Real Money article I posted about earlier today. SLW traded 9.1 million shares today vs. 5.9 average daily volume. After the September & October hedge fund liquidations it's been rare to see a PM stock trade over it's average daily volume, unless it's on one those -500 point down days in the DOW. Those 27,000 call options and this volume set off a lot of bells & whistles TA screens. Most PM stocks are now +50-100% off their Oct/Nov lows. And SLW is only +25% off it's lows. So you've got .60 cents downside to it's ytd lows, and $1.30 upside just to it's November highs of a couple of weeks ago. That's 2:1 upside to downside in the near term. There just aren't any quality PM stocks left with this type of risk:reward. It should be an easy buy & hold double by spring. And it's been a pretty good trader over the last few weeks for those so inclined. I think this is potentially "the best" of the remaining PM laggards. With today's volume, and with the option activity noted by the media, it could easily get some momentum players piling in. Keep this on your buy list and add on any weakness. You don't want to chase this on the open. And if we get a "gap up" open tomorrow... if you're already in... then you know what to do with at least "part" of your position. Here's a link to an interview with SLW's CEO. It's very informative. Listen to it tonight, or tomorrow pre-open, and then wait for a buying opp if you don't already own it. ...if it gaps up, don't chase it, just keep it on your watch list. With the double mention by the Street.com/Real Money, Najarians mention on Fast Money, and the after hours spike if Gold & Silver are green it should run to $3.60-$3.70 where it's been hitting resistance, and then pullback. ...if that happens, wait for the pullback. Here's the link, it's an EXCELLENT interview, scroll down to the "4th Hour" and click on the link: financialsense.com 4th Hour The Producers Peter Barnes, CEO & Director Silver Wheaton Corp. (TSX: SLW \| NYSE: SLW) SOTB