Watch List for Monday - SILA
Hototc.com <info@hototc.com>
date: Sun, Aug 1, 2010 at 5:50 PM
My new big pick is SILA.
If you watch the small cap section closely you probably noticed the SILA rally over the last few weeks. If you missed it, now is the time to take a serious look at SILA.
SILA has taken a dip the last few days and is currently sitting at a Fibonacci level.
View the SILA Fibonacci chart here: http://img191.imageshack.us/img191/7927/silachart.gif
The Fibonacci levels are technical levels traders use as support levels. The theory states that after a run a stock may retrace to one of these levels. SILA is currently sitting at one.
Technical traders use these levels as entries for another possible leg up. If this plays out for SILA, it would be the 3rd leg up, which is usually the longest leg in the 5 wave pattern!!
SILA is a precious metal company with emphasis on gold and silver. The company recently entered into a $7.5 Mill equity financing agreement. to day they have received $300k to fund their exploration strategy.
SILA has also received YTD $500k from equity subscriptions.
The funding will be utilized by SILA in its ongoing acquisition strategy and specifically in the further exploration and development of its existing Keeno Strike Property in Nevada, which could potentially contain ~1.1 million ounces of gold and ~69.0 million ounces of silver accessible via open-pit bulk handling methods, and its Guadalupe Property in Mexico
Start your research at: http://www.gold-american.com Always do your own research and consult with your own financial professional.
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