RE: Re: Why The Sell Offok... Its ended on the low end of the day. Lets look at that.
1. The volume was relatively low compared to recent sessions
2. We are way up from our 52 week lows. Even from a month ago.
3. The markets as a whole have been creamed the last couple days and we held up.
4. The RSI is at 55. (stocks tend to trend down only when they hit in the 70s).
5. A ton of shares have traded above .20. so we are likely to hold here (unless something drastic happens)
6. Panterra (which stealth owns 13 mil presplit shares of) is rising making SLV worth more
7. And you are right. We are probably trading higher because of NG and that is the wild card. Half the people think it is going lower because of oversupply (shale) the other half think its going higher because the environazis are in charge and NG is way cleaner than coal for power generation. (Im stuck in the middle on this).
Im starting to believe the increase in SP is not only NG but the Stelmach gov. in Alberta is due to retool the Royalty rates again. Reversing the damage they did when the screwed them up the first time. Its no secret that the gas players like SLV were the ones who got creamed by that the most so we might be seeing SLV go up based on this upcoming change which is expected in a few weeks.
JMHO of course