FR

SLW, Silver Wheaton Corp.

Hamilton

slw jul 2012

Silver Wheaton is a great company, it does not look for or dig up silver, it just collects “royalties”. Makes it a bit of a pure play. It is down exactly 50% at the lows. Both a bullish and a bearish count are presently possible, but either way, a move to about $32.50 should be anticipated. That is more than 10%! Use a stop loss. After that I prefer the downside but from an EW perspective that conclusion cannot be drawn unequivocally. Other stocks favour the downside as well, see for instance FR, First Majestic and HZU (down at 4 from 20!);

fr jul 2012

This one is almost certainly doing a small a-b-c AND still has to get to a reasonable target of $10. See previous blogs on this and HZU.

FVI , FR , HZU all silver.

Hamilton

FVI apr 20111

Got this one wrong the first time, thought it was a sell at the red arrow. In the meantime it has added 2 waves and now one can count 9 in total which may, once again herald the end of the sequence. See also the charts for FR , First Majestic and the Hor Betapro 2X ETF;

FR 2011 HZU 2011

FR also has this 9 wave sequence, numbered as the normal 5-waves bull market. It too may be complete or close to that. HZU is a little new to the plate but may actually be contributing to this momentum action. It is nearly vertical as we approach the Hunt brothers $55 peak back in the early eighties. We may not reach that level.