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Message: Silverado Gold Mine Chart Update

Silverado Gold Mine Chart Update

posted on Aug 22, 2009 12:25PM

Heres my 'Two Cents' on the subject of Silverado, any news out next week will keep the share price in a strong upward positve trend. Why do I say that... will read on $$

I've attached the current Silverado 'Weekly' chart that I constructed last Thursday night.

One can see exactly what is happening,
the share price has been in a strong up-trend pattern since last March. The 20 day moving average line was the support for many weeks until the recent low set Thursday. It now appears that the the 50 day moving average line is the support as of Fridays closing.

The 'Relative Strength' Indicator, above the price chart,reflects that the share price has moved back to 50 the neutral area; remember anything above 70 is the over bought territory and anything below 30 is the over sold territory.

The 'MACD' indictor, below the price chart, reflects a steady positive climb since last November of 2009

Bottom line, the up-trend is still intact $$

By the way,

what happened to all the leagal short sellers ?? The Pink Sheets show Zero 'O' Short Intrest. Whars up with that ? They all bailed, must be the talks with Domick & Domick about financing that scared them off ? leaving the naked short sellers to handle all the huffin & puffin all by themselves ? The naked short sellers won't win this war if Silverado lands financing from D&D.

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