Wheaton. The long view.
from readers is our joy. We are all infinitely stronger thinking together. Going it alone in the stock market is like climbing Everest alone. Maybe, but why? Fitz wrote us with penetrating insight and experience impossible to ignore. Here’s what he said following yesterday’s “Felony Gold.”
He’s right. At the time WPM was known as Silver Wheaton. Way back in ’09 this issue made a stunning +1400% move. But that was then. Now is now. Fitz feels an entry point is at hand now. He is not alone. As we stated yesterday, Investing.com ranks WPM a “Strong Buy” right here on internals. We don’t see these positives in the footprints. Here they are.
WHEATON HISTORY IN TECHNICAL FOOTPRINTS.
Silver Wheaton’s stunning rise, 2009.
The dollar is not weakening, but rather continuing it’s relative strength. Longer term market direction remains unclear, despite broadly horrific price-action, across sectors. If markets continue to weaken, perhaps the recession gold play will gain momentum. We do not see that now, nor are we seeing such nascent strengthening in Wheaton Precious Metals.
At a 9.07 peg ratio, Wheaton is 3x the price of Amazon(peg 2.91), and more than 5x Netflix(peg 1.66). Netflix and Amazon are two of the very best companies in the world. Amazon has a runway for growth longer than any, and more shots on goal then the Chiefs. We think AMZN, even right here, is a better candidate. United Health and Verizon also offer more stability and growth potential. Thanks to our readers for such insightful feedback.
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