Silver Wheaton (SLW): Chart of the Day

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Is the commodity run over? It appears as if QE2 is set to expire at the end of June, money is flowing out of the commodity sector. The Fed has initiated a form of tightening without tightening by talking up the end of QE2 next month. Sovereign debt woes out of the Eurozone is driving the euro lower thus rallying the dollar. China is attempting to get the inflation genie back into the bottle and several nations are actually raising interest rates. This has some expecting a slowdown in global growth and a subsequent decrease in demand for commodities. Our country faces debt problems of its own is attempting to rein them in. President Obama's proposal to cut $4Trillion in 10 years doesn't even cover the interest on our debt. Itz believes that traders are not focusing on the long term and maybe missing the continued decline of the dollar. Yes near term we're seeing a rally, currently trading at 75.53. Itz sees 73 being tested and giving way, if that happens expect commodities to resume the trend higher.
Itz favorite silver stock has been Silver Wheaton, is it a buy or should one exit here? If one believes the view that the current correction is temporary, then it is a buy.