SLW – Silver Wheaton (Last:31.25)

It’s been a while since we looked in on Silver Wheaton, and it may be a while longer before we do so again, since the stock has been a tease for longer than most of us want to recall. Notice how its most recent head fake failed by a few crucial inches to surpass a distinctive peak recorded a couple of weeks earlier.  That’s sufficient to imply that bulls are content to screw the pooch for yet a while longer. This state of lassitude is nothing that couldn’t be remedied with a relatively modest rally (i.e., past peaks #1 and #2), but until that happens we’ll resign ourselves to seeing each new rally as gratuitous.

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