Hi Pic!
One thing that is encouraging for me is the performance of SLW today and the indications that the thinly traded SLW derivatives are telling me. SLW is a large cap stock and more difficult to push around as part of a coordinated intervention. I have noticed lately that SLW is outperforming the price of silver, and this is in stark contrast to most of the previous 2 months where SLW was leading silver lower. However the wrts trade on the TSX and have a very thin volume. When the wrts are selling off steeply it has coincided with smackdowns for silver, and when the wrts have been hard to buy (even at times when the common stock is still in the red) then it usually indicates the pressure for the sector as a whole is about to lighten up. The options series are even more thinly traded. I have leverage to common, wrts, and call options for SLW and I have been trying to buy more today. SLW has been holding firm even as silver itself is pushed around. I expect to see both the metal and the stock move higher into the close, if indeed I am correct in my assumption that we have just seen the lows for the last Comex spec cycle.
This is all just based on my own observations and nothing is carved in stone. It just seems to me that the traders of SLW are tuned in to what the Cartel has planned for the next move. When SLW shows relative strength it usually means the next move for silver itself is UP.
cheers!
mike
