SG:Silver and Silver Mining Stocks Silver Wheaton, Majestic Silver Corp., Coeur d'Alene, and the iShares Silver Trust Fund Dissected from a Trading Perspective Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/09/prweb8395087.DTL#ixzz1LqvSx4BS
San Diego, CA (PRWEB) May 09, 2011
Coeur d'Alene, Silver Wheaton, Majestic Silver Corp., and the iShares Silver Trust are just a few of the names that have been discussed in detail by the trading community at the Small Cap Network (www.smallcapnetwork.com). The site's community commentators have been spot on with its swings several times, with both short-term and long-term perspectives.
"Bryan Murphy's call at the top was spot-on," says the site's editor James Brumley. "He warned that the bubble was about to pop on the 29th (April). Silver closed at $47.88 that day, down $48.44 from the 28th. The next trading day, however, was the beginning of a disaster. Ultimately, silver reached a low of $36.89 within a week, just pennies under Bryan's target price of $37.02. At the time, Murphy caught a lot of flack for going against the grain. As it turns out, he absolutely nailed it."
The iShares Silver Trust ETF, Silver Wheaton, Majestic Silver Corp., and Coeur d'Alene shares all doled out similar plunges to the one that silver (the commodity) made with its 22% selloff.
John Udovich has also been analyzing many of the same stocks, coming to many of the same conclusions. His recent commentaries look at the bigger picture for silver and its mining stocks, pointing out that the rally in sliver prices had disconnected with the rally in silver stocks a few days before the major correction. Udovich recommends adding gold to the mix for traders seeking a way to play silver's hot streak, as gold has proven to be more stable of late.
Murphy's latest outlook on silver for the near-term is a bullish one. The analyst feels the recent selloff is as exaggerated as the prior rally was, and that silver is poised to close some of the distance between the recent peak and the even more recent low.
The full commentaries and deeper examination of these four stocks and other silver names can be found by visiting the site www.smallcapnetwork.com.
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