Is there any news that can explain 6% drop in SLW today? Last time I saw something like this..silver soon followed down.. Is it a signal to BTFD..
Besides the obvious reason (manipulation by TPTB which can drop any miner to any level they wish regardless of any news... Many times even on good news)... I think the drop today may also be related to an asset grab (nationalization) by the Argentinian Government which took place today... SLW has some present as well as future revenue streams coming from Argentinian mines... So if we try to rationalize the drop, perhaps it's related to that (but really, in general, there's no need to try to find a reason for large declines by miners... Miners decline -these days- JUST BECAUSE THEY ARE MINERS!)
In the past, it's been my casual observation that it is relatively advantageous to pick up SLW shares when they are $2.00 or more below the spot price of Silver.
SLW closed at $29.58
Spot Silver is currently $31.63
If others have made similar or contradictory observations in regard to SLW, please feel free to share them.
Full article at: https://www.silverstrategies.com/story.aspx?local=h&id=83093
Press Release: Silver Wheaton Corp. – 1 hour 9 minutes ago
VANCOUVER , May 14, 2012 /CNW/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (SLW.TO)(SLW) is pleased to announce its unaudited results for the first quarter ended March 31, 2012 .
FIRST QUARTER HIGHLIGHTS
"Solid operating performance from across our portfolio of mines led to a strong start in 2012," said Randy Smallwood , President and Chief Executive Officer of Silver Wheaton. "We achieved record quarterly revenues, and are on target to attaining our annual production guidance of 27 million silver equivalent ounces. With continued positive progress at our world-class cornerstone assets, including the Peñasquito and Pascua-Lama mines, Silver Wheaton retains one of the strongest growth profiles in the sector."
Bought my second batch of Slw after the take down today...couldn't help myself ($26.84). My first batch I bought the bottom (I hope) at $23.44 on 5/16. I now have 400 shares and feeling pretty good about it.
I guess we will have to wait till Big Ben to speak (5/20) to see how Silver will react.
I was surprised to see B.W. make this statement on what a bad business model SLW has.
I'm left wondering weather this guy really believes what he is saying or is there some other
motivation for this slam. SLW's business model is as low risk as you can get and still have
exposure to potential silver upside potential which I am still convinced is coming. Hang
but look at the difference between SLW and Franco Nevada for the last 6 month/1 year.
what do you think of this?
why would a gold streamer be performing so much better. granted silver's been getting kicked worse these days, but This much of a difference is ridiculous.
I bought my 1st 100 at 14.65 and 2nd at 18.60. Sold 1st one at 42.00 and still hold my 2nd. I have not had a stock that performed this well in a long time. Was talked into it by a friend who got in at 3.00. Watch it grow. Time will tell, but they seem to know what they are doing.