I can't judge whether this nice looking daily break above 40c is bullish for a rally or will soon fizzle. The daily looks interesting but the weekly has showed narrowing of volatility then a show of direction to the downside with volume. Traders could possibly get a profitable rally but investors might just get trapped again eventually. I give up, your call, lol. Anyone willing to take a guess whether this is really significant? 50c seems the critical level to get above, then maybe a stop loss below that if buying there, or some tactic like that? DAILY 6 MTH WEEKLY 1 YEAR
0.535 breakout Volume good one hour into trading, and broken above significant 50c level which was the June low. Weekly momentum indicators (not shown on this dly chart) are positively divergent. All good signs I'd have to say. Any buyers here should set stop loss in this case imo.
"Gold stocks are f*kg gaarrbage" - Finance News Network sought out comment from experienced and seasoned investor, finicky of silverstackers.com ASX worst stock performers in 2013 January 02, 2014 Silver Lake Resources Limited (ASX:SLR) has claimed the wooden spoon as the worst performing stock on the Australian Securities Exchange in 2013. The West Australian focused gold mining company's stock fell 83.9 per cent to $0.535 over 2013 in the same period the price of gold fell 28 per cent. The year's worst performing stocks were largely mining related with the materials sector itself falling 3.7 per cent as commentators called the end of the mining investment boom. Taking the second worst performing spot was gold miner Resolute Mining Limited (ASX:RSG) [Down 66.2 per cent in 2013] followed by Australia's largest gold miner Newcrest Mining Limited (ASX:NCM) [Down 64.8 per cent in 2013], mining services provider Forge Group Limited (ASX:FGE) [Down 64.7 per cent in 2013] and gold and silver miner Evolution Mining Limited (ASX:CAH) [Down 64 per cent in 2013]. Rounding out the worst ten performers was mining services provider Ausdrill Limited (ASX:ASL) [Down 63.6 per cent in 2013], gold mining company Medusa Mining Limited (ASX:MML) [Down 62.4 per cent in 2013], uranium miner Paladin Energy Limited (ASXDN) [Down down 54.9 per cent in 2013], maintenance services provider Transfield Services Limited (ASX:TSE) [Down 54.1 per cent in 2013] and gold and copper miner OZ Minerals Limited (ASX:OZL) [Down 53 per cent in 2013]. Silver Lake Resources fell to a net loss of $319 million in the 2013 financial year. http://www.finnewsnetwork.com.au/ar...il&utm_term=0_93a5b03408-d02e9836c2-137684005
it went down fast and it will go back up even faster. good on anyone that picked some up at around 35c. I think people are starting to get tired of all the fear talk in metals and more so in the miners. Hope gold get to $2000 by the end of this year.
How do you know? Such a person would have had no reasonable basis for buying at that point imo. Like who? You don't think "fear talk" has been justified after this stock was the ASX worst performer 2013? "Hope"
Nice move today. People are really starting to see that this is not the dud company a lot op people were claiming it to be. Won't take much to push it back into the $1 range. Can't see gold moving back into the $1000 range, Armstrong can keep popping those pills. When things are going up people think it will go up forever and when things are going down people think it will keep going down for ever. Both are wrong.
yep SLR has been in a strong down trend for over a year now falling from $4 down to way under a dollar. Glad you understand now that this down trend will not last forever and soon gold & SLR will be back on its way up. But for the time being it is still in the gutters. btw look at the volume! Once again congrats to the people that did some buying around the 35c level. The fundamentals are paying off and you just made a sweet 100% profit in 1 month.
That's a big turtle-you if ever I have seen one. :lol: If you weren't in on the recent issue, I guess you aren't sophisticated or professional. :lol:
Unless they shorted it as soon as they got their hands on it, which is most likely. So in that case they are up.
Had a good day today, but Silver Lake (SLR) monthly chart still looking a bit more dicey to my eye than some other gold stock charts with bottoming characteristics. Chiefly the record high volume for month of March producing a longish red candle. As well, unlike other gold stocks that could be bottoming, Silver Lake has exceeded its June '13 low to the downside. It is however absorbing punishingly high volume without deep correction in price. Today's positive advance is not shown in the last monthly candle (April) yet I'm mainly posting on SLR to throw in Macquarie's recent published sentiment for those interested in SLR: http://www.sharecafe.com.au/fnarena_news.asp?a=AV&ai=29674
Whereas Deutsche Bank says of SLR: SLR - Deutsche Bank rates the stock as Hold Broker Call - April 17 2014 The company's March quarter production of 49,000 ozs was below the broker's 52,000 ozs estimate but the assets are performing and generating cash at the current gold price. The recent focus on grade and cash management is sensible in Deutsche Bank's view. The Hold rating is maintained and the target is steady at 40c. SLR - Deutsche Bank rates the stock as Upgrade to Hold from Sell Broker Call - April 02 2014 Deutsche Bank has upgraded Silver Lake to Hold from Sell based on valuation. Taking a medium term view the broker expects a slide in gold but a pick up in base metal prices. The price target is raised to 40c from 30c. The dubious value of broker/investment bank valuations is shown up on the same page which archives older valuations. There's a downgrade dated 31 Jan 2013 by JP Morgan: Target $2.85 (was $3.75) While On 11 Mar 2013 CIMB Securities put an outperform rating on SLR with a target of $2.65. CIMB took heart from the merger with Integra and the commissioning of Murchison (since decommissioned, lol) At that time CIMB liked the "aggressive management", predicted dividends in the pipeline, mentioned the 6.6m ozs of resources, and saw a "big book" of exploration and development potential with an output goal of 400kozpa. These from www.fnarena.com which disables copy and pasting
You guys have been a bit quiet on SLR for a while.. anyone still holding? Ive been waiting for an entry point and yesterday bought at .44 Whats are your latest thoughts/ information on this one?
I still believe gold will be $1000 before $1400......that is when I will take a flutter on this stock..... In the mean time I will just ignore the fact that some lucky stackers nearly doubled their money when they bought at the bottom recently....
