The “Chart of the Day” is Silver Wheaton (SLW), which showed up on Monday’s “Barchart Top 100 Stocks” list with a 100% Buy Barchart Opinion rating. Silver Wheaton on Monday posted a new record high and closed up +0.26%. Since the stock has already rallied sharply in the past 4 sessions, traders may want to wait for some consolidation and a fresh high before considering a long position. Silver Wheaton has been boosted by last week’s upside breakout in silver prices to a new 2-month high. The nearby chart illustrates the fairly close correlation between Silver Wheaton and silver prices. Silver Wheaton, with a market cap of $7.6 billion, is a pure-play silver mining company that expects to produce 22.2 million ounces of silver in 2010 and then ramp that up to 38 million ounces by 2013 with no additional capital expenditures.

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How we found the Chart of the Day:

We found the “Chart of the Day” by scanning the Barchart “Signals – Top 100 Stocks” list. The Top 100 Stocks ranks stocks by a combination of their overall opinion, signal strength and signal direction to come up with a list of the top 100 stocks by opinion. Each analytic used within the signals is rated by signal strength and direction. The strengths are allocated 10, 20, 30, 40 or 50 points; the directions are allocated 1, 2, 3, 4 or 5 points. This gives a maximum of 55 points per signal. The totals are added up depending on buy, sell and hold rating and ranked 1 to 100 for the top 100 bullish stocks and the top 100 bearish stocks. The signal strength and signal direction ratings are available from the advanced opinion pages. Signal strength and signal direction are independent of the signals rating.

Barchart’s Opinion trading systems are all a Buy and Barchart’s daily Trendspotter(tm) trading system is a “Buy.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

  • Trendspotter: Buy
  • Short-Term Indicators: 100% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 100% Buy


Barchart links for further information:
Quotes and Charts, Technical Analysis, Barchart Opinions, and Chart of the Day Archives

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