SLW – Silver Wheaton (Last:25.10)

After pushing decisively past it, the stock appears  to be consolidating at the 24.94 midpoint pivot of a bullish pattern projecting to 30.65. That would represent a 23% rally from current levels, implying traders should position from the long side. You can do so most aggressively if using ‘camouflage’, and the best place to find it at the moment will be on the 10-minute chart, which contains several ‘external’ peaks that can be used for leverage. _______ UPDATE (7:48 p.m. EDT):  Some chat-roomers evidently took my bullishness on the stock as a go-ahead to buy call options. Keep in mind that I suggest using options for directional plays only if one is fairly confident the position will go into-the-black within perhaps 15-30 minutes. Practically speaking, this means buying puts or calls only at Hidden Pivot swing points.  Going out to May expiration is okay if you plan to calendar-spread calls you’ve bought, but for all intents and purposes, going out further in time with options is only stacking the deck against yourself. For all buyers of options at all times, time works against you, and the further out in time you go, the greater your odds of losing.  I will be tracking SLW closely in the days ahead, looking for an opportune spot to get long.  If you’re interested, stay tuned to the chat room and to email notifications. _______ UPDATE (March 11, 8:36 p.m.): A Hidden Pivot support at 24.37 looks like opportunity. Accordingly, I’ll recommend bidding 24.34 for 400 shares, stop 24.24.  You can increase your size to 1000 shares if you use camouflage, assuming theoretical entry risk can be held to no more than 4-6 cents per share.