Silver up doesn't make any difference to SLR.
SLR doesn't produce any silver, its just the name.
Perhaps they could name it Goldenlake instead of Silverlake.
However, the Gold/Silver ratio is very important for the sector.
A rising ratio is bearish and falling ratio is deemed bullish. The ratio right now is close to all time high which means either silver has to rise faster or gold must fall. So a rising silver price is always always good for the sector. It means that speculators are feeling bullish about precious metal and hence buying silver as one gets more bang for their bucks, silver is cheap....very very cheap. A 50c move in the price of silver provides great leverage to the longs in the futures market.
But what is in the name.
It's all in the action and the action right now is thrilling. Loving it.
I alto lake thhe name Tilberlake
I lak Luk Tonking
I lak Lenn Allllldrijje
I lak Dennnnit Cardhosho
I donnn lak Leth Davith but iffh the prithe go abhobhe sicty-fav centh,I bhill lak him.
Ha ha ha...........got to laugh sometimes in this crazy market.
I wonder why were these people not buying when the price was below 40c and was for the whole year.(All that time I was terrorised, tortured, forced to endure pain.)
At 35-36c, I was screaming from the rooftop....Buy Buy Buy.....No one would listen. Even gold stock specialist like
@nordesmic was bearish on SLR. But the professionals will only tell what's good for them.
Today people are fighting hand over fist to buy. I don't understand.
The fact is today SLR at 51c is less attractive to me then it was at 36c.
Anyway not complaining. Rather happy as I again sold some as it has once again surpassed the 40% threshold in my portfolio. It's like snipping plant, you snip them and they grow more aggressively.
Wish I could do the same with some other dogs I am holding. One has become the king of dogs of all time.
Good luck and congratulations to all of those who suffered the pain and held on.
But always remember what the market giveth may taketh away as well.
Play safe and play well.
No one ever went broke taking profits.
In the market
Bulls make money
Bears make money
Pigs get slaughtered
Don't be the pig
Take what you can and give nothing back.
P.S:- I think the fund managers have worked out SLR is going to enter ASX 300 in the next shuffle, i.e June quarter. So they are positioning aka front running the front runners. If that is so then 70c and beyond is not out of the question.
