Silver Wheaton (SLW), Coeur d’Alene (CDE), Hecla Mining (HL) are racking up gains… who’s next?
Today's Financial News - Posted October 15, 2009
Silver champions Silver Wheaton (NYSE:SLW), Coeur d’Alene (NYSE:CDE), and Hecla Mining (HL) have been putting gains into investors’ pockets. TFN readers suggest Mag Silver (AMEX:MVG) and this mystery stock may be golden, too!
by J. Christoph Amberger
Baltimore, MD — TFN: With one of our longer-term Hot Stock Confidential plays, Silver Wheaton Corp. (NYSE:SLW) up close to 50%, I had asked our TFN eNews readers about their views on silver-related equity plays.
TFN eNews reader Henry C., wrote in:
“I love SLW. Have owned it at 20 and at 4. Bullish on silver, even more than gold. The S&G ratio is still way out of proportion. I still believe in regression to the mean. Terrific management and policy of income production. No dividends, but they are using the funds for growth. Fine, I look to MPLs and Energy TR for income. I get income on the non-dividend assets with covered calls and selling puts. SLW is a great stock for that. High beta in today’s market.
“If my covered calls are exercised, I’m protected by the calls I have purchased. Of course, stop losses must be in place. Nobody is always right in predicting the vagaries of the market. Especially those manipulated by the boyz. If Ted Butlers recommendations to the CFTC bear fruition, limiting it to 1500 contracts per trader will result in massive short covering in both metals and limit manipulation in the future. It cannot get worse, only better.”
TFN eNews reader Gene G. wrote in: “I have done right smart this year with Coeur d’Alene (NYSE:CDE) and Hecla Mining (NYSE:HL). I sold CDE and HL last month and bought Mag Silver Corp (AMEX:MVG) and SLW.
“CDE is on my re-buy list if it gets reasonable again. I continue to hold one other silver stock. And while I may take profits on SLW and MVG, I will hold on to that one unless the world falls apart.”
(Editor’s Note: Hot Stock Confidential readers, too, are sitting on 52% and 39% gains taken on CDE and HL, respectively.)
Coincidentally, reader Michael H. had similar feelings about Gene’s “mystery” silver stock– which has a strong Chinese tie-in: “It’s all about China these days. Bought in July @ $2.68. Already up over 50%, way more room to run as silver will approach historic level of $100.00 an ounce within the next year. Don’t sell SLW. Bought that at 7.50. Booyah. Silver Silver Silver.”
Independent of Gene and Michael’s suggestion, Hot Stock Confidential editor Laura Cadden issued a recommendation for this particular silver company in today’s Hot Stock Pick of the Week: “If you look at its share price over the past five years, you can see just how undervalued it is. Then there’s the fact that this is a dividend stock — always a nice bonus!
“If you haven’t yet had enough of silver, I recommend you pick up shares under $5.50 and hold on for 20% gains!”
Find out what stock they’re talking about by becoming a member of Hot Stock Confidential: http://www.todaysfinancialnews.com/HSC/ridic/WHSCK904.html
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