SLW – Silver Wheaton (Last:43.27)

We are looking to buy 400 shares, but only on perfect terms. Yesterday our 41.96 bid fell 11 cents shy of the actual low from which SLW took a strong bounce.  Today we’ll try bidding again at 42.51, three cents above a promising Hidden Pivot support at 42.48. A 12-cent-stop-loss is suggested. _______ UPDATE (1:38 p.m EDT): We’ll continue to use stink bids in this stock, since I don’t trust the rally.  Although buyers of precious-metal shares are ostensibly the good guys, the way they have been manipulating SLW in particular has been viciously predatory.  Gap-up and gap-down openings are occurring on most days, and buyers who have been suckered by the former will eventually dry up, allowing the stock to experience genuine weakness at the bell that will properly set the tone for the entire session. _______ FURTHER UPDATE (1:54 p.m. EDT): I’m establishing a tracking position of 400 shares, since two subscribers reported fills at 42.50 that held using a slightly wider stop-loss than I’d advised. The actual low was 42.27, and SLW has rebounded smartly since, touching 43.17.  A further push above 43.64 today would leave the bulls in good position to go marauding next week.