Silver Lake Resources (SLR)

I couldn't help myself Friday and have got back into this stock at 0.76, well below the 0.85 share placement price. AUT and SLR have been my biggest profit making stocks ever, going with my heart not my head this time....fingers crossed. :/
 
Some who are bullish gold in the long term are still predicting lower prices since Gold broke its recent uptrend. Maybe even a price around US$1000. No-one will be wanting gold stocks if that happens. Even retesting the US$1200 area should do the trick.

Positive close of gold on Friday so rally Monday, but SLR chart isn't looking too healthy right now I'd argue. Specifically it 'gapped down' Friday, it's 'overlapping' (falling below its previous peak), and it ended the week not far off its intra week low.

I'm trying to be a bit disciplined about goldies generally and wait for charts that are uptrending or showing characteristics of a bottom. Figuring I can sacrifice quite a bit off the bottom for SLR, wherever that is, and still get in 'cheap'.


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When it comes to SLR, I have an itch that needs to be scratched when it comes to buying this stock. I am very keen.......but.......I am not confident the bottom is in yet for gold...
If the bottom comes in at around the $1000 mark, a lot of gold companies will be in the red......how many can last for a year for example at or below production costs?
I suppose I will have to liken this itch to the one I get from sand flies......if I scratch it too soon I will simply tear the head off it and it will continue to itch for the next 4 weeks, it will become infected and will leave a semi-permanent scar to remind me not to scratch too quickly next time......bear with it....
 
Anyone with live prices who is watching this on open could you be kind enough to post opening price today? :) TIA
 
I'm sorry but I'm shorting these guys big time and I'm confident in my assessment .
Make some money and short this stock and when the times right buy back in.
 
Hmm I think I saw an article today about a larger company buying Alacer Gold Corp (AQG).. Makes me wonder if any larger companies will buy out SLR soon or if the share price falls much further. With a market cap of ~340million it is quite cheap, if you are bullish on gold of course.

As much as I hated the capital raising a while back it now seems like it was for the best. With no debt SLR is in a great position if gold goes lower or (heaven forbid) fall below their production cost. Could you imagine the antics with miners if gold fell below $1000 or perhaps even lower than that, think $700.. Basically all australian gold mining companies would put their mines in care and maintenance and would have to go to the market and dilute the shit out of their shares just to make debt repayments and not go bankrupt. With no debt and a reasonable amount of cash on hand SLR would be OK in a temporary gold below $1000 scenario. Other companies like NCM... not so much.

Still sucks how it has all played out though. (so far ;) )
 
Silvercross said:
I'm sorry but I'm shorting these guys big time and I'm confident in my assessment .
Make some money and short this stock and when the times right buy back in.
Click to expand...

o.k. cough it out......I'm curious.....always open to new ideas....
 
EGM was today.

All votes passed. Directors will still buy their shares at .85c

Picked up some today for .735c
 
Greenman said:
EGM was today.

All votes passed. Directors will still buy their shares at .85c

Picked up some today for .735c
Click to expand...

Given that the bulk of the raising is the placement @ 85c and is underwritten its not hard top see the temptation to buy on market @ ~73c. After all the SP is not under any pressure down here from those who in normal circumstances sell held shares to replace them cheaper through a cap raising.

But you'd have to admit there's no encouragement from the chart yet. The SP has not been able to get above its declining 20 day moving average for 22 trading days, and is looking at best indecisive as it closes the week on its intraday low, Not for me yet, still prepared to give up some upside waiting for a convincing picture of a low.

The weekly volatility is narrowing though, so it looks like it's getting ready to show its direction

gibber gibber, lol

WEEKLY VOLATILITY CHART
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Weekly close 67c
Still looking weak 'technically'. I will discuss it with anyone interested. I would not buy myself until it shows confirmed signs of reversal of the LT downtrend

MONTHLY VOLATILITY
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Im interested but I don't know anything about TA.. What I do know is that this stock is probably gonna drop like a rock next week. Gold going down at a time when it should be acting as a "safe haven" and going up is causing more people to lose confidence in it and sell, causing the price to drop more and more people to sell... PM miners have returned like -70% over the last year while the stock market has overall gained 30%. Yuck.

Hard to believe SLR was $4.00 just last year.. Current market cap at .67 is $248,000,000.. VERY cheap if you are bullish on gold.

What would class as a reversal of LT downtrend, finicky? LT=long term?
 
MyNamesNotBen said:
VERY cheap if you are bullish on gold.
Click to expand...

Not necessarily I'd say - no gold miner is guaranteed to follow the metal

What would class as a reversal of LT downtrend, finicky? LT=long term?
Click to expand...

Yes, LT = long term NotBen. Subjective measure - in case of SLR either 9 months or 12 months so far, depending on whether a bottom has been made in June - obviously I have some doubt at this stage.
I would only feel that the wildly negative months might have been undone by a monthly close above $1.05. That would be a higher high.

That's not going to satisfy a bottom picker so he'd have to go to the weekly and daily and look for indications there that would amount to a less safe hunch than the monthly. I'd be trying to go by shorter ranges in the candles, indecision in the candles followed by strength, higher volume on the up days/weeks, higher lows higher peaks, narrowing volatility bands then break upside, momentum strength .. blah blah .. basically any tea leaf conformation.
Right now the weekly and daily are looking weak, so not tempted to buy on the even more subjective notion of cheapness
This month of October isn't over so monthly candle might improve - but doubt it at this point

You can never know the fundamentals of a goldie imo
 
SLR back under 60c

ugly day for gold miners

TRY down to $1.10
NCM under $9
 
And yet others went up. I learnt a month ago that SLR is the wrong horse to be on until the price of gold confirms a reversal of its slide. Much better value around ATM with the goldies.
 
0.49... find myself rubber necking this slow motion train wreck


Last time the stock was this price silver was $13.61 :0
 
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