Not very steep, but a falling wedge nonetheless, typically means the price will rise. And according to the stochastics, there’s room to run, too.
While I’m waiting, I’m making money on writing covered calls.
Current price: (SLW: 21.09 -0.75%)
This is obviously a significant level for (SLW: 21.09 -0.75%). Can it break above $40 and stay there?
Oscillators say the stock is overbought at these levels, I’m hoping for a mild correction if there’s one.
I haven’t looked at this in awhile: search term popularity according to Google.
Of course, a lot of the searches are for meDals, not meTals, especially during the Olympics. Still, gold is more popular lately, by about 20%:
Silver is the lagging black line with the price scale on the left.
In July 2011 I wrote an in-the-money call against (SLW: 21.09 -0.75%) and it expired worthless last Friday. Hooray for me.
Time to write another one. Based on the chart below, I’m thinking of writing one that’s, again, in the money and maybe a year or two out. I think the stock price will be lower than today at some point which should give me a chance to buy the call back lower. And that kinda sucks ’cause I still have some free-floating, unprotected stock. Oh well.
Trying out a new chart style, monochrome. Red lines are the negatives, green – obviously – the positives.
And here’s a page from a 1934 catalog. I’m calling it “The Joys of Inflation, or See It and Weep”.