The Heart of the Matter

chart of coeur mining

Chart by Steven Sarnoff h/t stockcharts.com

Options Hotline reco update, FYI:

Our recommended call on Coeur Mining (CDE) triggered 10-28-19 at $.75, closed 11-12-19 at $1.60, +113% in two weeks, with an always known and strictly limited risk!

That’s Superleverage Power on Display.

I can’t guarantee all my recos will multiply like Coeur, but each week I do my best to find option winners for my great subscribers.

Subscribe to Options Hotline today to vie for fun and profit!

All the best,

Steve

A Point About The Head and Shoulders Pattern

WPM chart

Chart by Steven Sarnoff h/t stockcharts.com

The Head and Shoulders is a well-known price pattern in markets.  Casual observers and amateur traders frequently misinterpret the pattern.  You can see how it gets its name on our chart of Wheaton Precious Metals above.

The point professional chartists understand is that it is not a pattern until the neckline support is broken.  Until then, it is only a potential Head and Shoulders.

Price projections are made from the top of the head to the neckline.  Some would call for WPM to fall to support in the low-$20s.  It may do that, if the neckline is broken.

Broken support often represents new resistance (supply).  Also, smart traders look to take advantage of false signals.  False signals are powerful indicators, but that is a topic for another article.

Support (demand) from the neckline and three consecutive positive red candles tell me WPM may be ready to take off higher and challenge its summer highs.

I see support at $25-$26.  Resistance is at $26.83-$28.50 and $30-$31.

Until proven otherwise by price action, and with the US dollar weakening, call me a Silver Bull.

Subscribe to Options Hotline today to vie for fun and profit.

Be careful and measured in your trading.

Good luck and best regards,

Steve

 

Surfing Silver With The Superleverage Power Of Options Hotline

silversurfer

by Steven Sarnoff

My Options Hotline subscribers doubled their money in just one day, today!  Here’s how they did it.

Option buyers are the only ones who have the Superleverage power to use OPM (other people’s money) to profit from changing prices, with an always known and strictly limited risk at all times.  Options also allow sensible speculators the opportunity to profit from stock moves both up and down.

Such has been our experience this year, using shares of silver streaming company Silver Wheaton (SLW) as our proxy for the precious metal. Continue reading

Hi-Yo Silver, +107% in a Month!

loneranger

by Steven Sarnoff

Long-tarnished metals miners have been shining in 2016.  Central bank shenanigans are weakening the US dollar and spurring precious metals prices.  Over the short-term, silver may need a pause to refresh.  But the overall character of the behavior of share price movement tells me silver is setting up for a nice long run.

In my Valentine’s Day missive to Options Hotline subscribers, I recommended readers get on-board a silver streamer via a call option on Silver Wheaton Corp. (SLW).  This morning, I sent an Alert to take multiplier profits of +107% in just over a month, with an always known and strictly limited risk!

Let’s take a look at how that trade developed.  As you can see on my weekly candlestick chart of SLW, February saw price break above the negative, debilitating influence of a downtrend line.  That positive price action fortified underlying support (demand) and set the stage for higher prices down the road.

slwweekly

Continue reading