romans holiday Posted May 2, 2011 Report Share Posted May 2, 2011 'Out at 17.90' (just pulling your leg)No doubt mine will be pulled, too. Nice to see you back btw. Not missing your kimchee with becquerrels, then? I could send you some? And mostly into gold, which has also performed well since then, and I half expect the price to be "stickier". A trade missed with silver/ gold, or silver/ dollar but there's always another. I'll continue to play the devils advocate [against myself] with the volatility in silver.... in order to hedge gold. Link to comment Share on other sites More sharing options...
Jake Posted May 2, 2011 Report Share Posted May 2, 2011 And mostly into gold, which has also performed well since then, and I half expect the price to be "stickier". A trade missed with silver/ gold, or silver/ dollar but there's always another. I'll continue to play the devils advocate [against myself] with the volatility in silver.... in order to hedge gold. So you'll pass on the kimchee with becq sauce? Kim Yu Na. Link to comment Share on other sites More sharing options...
warpig Posted May 3, 2011 Report Share Posted May 3, 2011 I think it's wonderful the CME are putting on a show for us and raising silver margin requirements 3 times in 5 days (35% in total)... Bless their little cotton socks, they must be backed in to a corner... What other conclusion can you draw and if that is the case, then silver is going much higher from here and soon IMO. Link to comment Share on other sites More sharing options...
drbubb Posted May 3, 2011 Report Share Posted May 3, 2011 Hang on a sec. Isn't Eric Sprott, an uber silver bug/bull in the media? And if the above is true, wouldn't that leave him open to charges of "ramping" in order to profit form it? He realises his fund is wildly overpriced. He is smart enough to see that he can sell down, and use the proceeds to buy Gold and Silver. That allows him to cash a real profit and still stay long "precious" if he wants to. Link to comment Share on other sites More sharing options...
Errol Posted May 3, 2011 Report Share Posted May 3, 2011 So Much For The Sprott Silver Scare: "Every Dollar From PSLV Sales Was Reinvested In Silver Equities" http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities Link to comment Share on other sites More sharing options...
Errol Posted May 3, 2011 Report Share Posted May 3, 2011 Banksters Covered 26 Million Silver Oz Short Position The CFTC released it’s commitment of traders report for the last Monday’s Silver Smack Down. And it shows the big guys used the raid to cover -5,209 short contracts (each contract is 5,000 oz. of silver) which is a little more than 26 million ounces of short silver. I wonder how much they covered with a much larger raid last night? This is a huge development. As soon as these guys either cover their shorts or they fail to deliver the physical metal it will be game over. (Remember we have less than 38 million ounces in the registered inventory of the CRIMEX. World wide silver production is 735 million ounces and the banks are still short 258 million ounces or 51,644 contracts. They have a long way to go.) The big question is, if we are in a blow off, parabolic, unsustainable top, why are the banksters covering their shorts? http://dont-tread-on.me/banksters-covered-26-million-oz-short-position-last-monday/ Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 3, 2011 Report Share Posted May 3, 2011 Here's the man. Jim Sinclair’s Commentary Before silver is finished margins will be raised to cash. Volatility, thy name is silver. CME Group Hiking Silver-Futures Margins By Another 11.6% Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 3, 2011 Report Share Posted May 3, 2011 Here's the man. volatility grows before she blows* *short-term bulls vs bears - no winner as yet Link to comment Share on other sites More sharing options...
carbon junkie Posted May 3, 2011 Report Share Posted May 3, 2011 Hang on a sec. Isn't Eric Sprott, an uber silver bug/bull in the media? And if the above is true, wouldn't that leave him open to charges of "ramping" in order to profit form it? If that were true. He is swapping silver for silver miners its a no-brainer ratio trade. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 3, 2011 Report Share Posted May 3, 2011 He is swapping silver for silver miners its a no-brainer ratio trade. I am pondering here too. But if you want really cheap, look at uranium mines. Link to comment Share on other sites More sharing options...
carbon junkie Posted May 3, 2011 Report Share Posted May 3, 2011 I am pondering here too. But if you want really cheap, look at uranium mines. Looking at Uranium, Gold and Silver miners at these prices. Already have some but would like to add more. Looking at Hecla seems cheap its had environmental problems that should be well priced in by now. Link to comment Share on other sites More sharing options...
Sprinkles Posted May 3, 2011 Report Share Posted May 3, 2011 Really sad to see this sort of thing happening now... http://cgi.ebay.co.uk/Silver-bullion-bar-1-troy-ounce-/190529093838?pt=UK_Coins_Bullion_Bars_SM&hash=item2c5c6b40ce Link to comment Share on other sites More sharing options...
Errol Posted May 3, 2011 Report Share Posted May 3, 2011 You think you've seen volatility ... think again: I believe that before the bull mkt is over, silver will move $20 in one day. Stewart Thomson - http://www.321gold.com/editorials/thomson_s/thomson_s_050311.html Link to comment Share on other sites More sharing options...
electroweak Posted May 3, 2011 Report Share Posted May 3, 2011 Interesting at Coininvest: Silver 1Kg bar: $1745 ( $54.4 / Oz ) Silver Eagles : $55.54 / Oz ... Try to get real silver at 'spot' ... joke. Link to comment Share on other sites More sharing options...
LauraB Posted May 3, 2011 Report Share Posted May 3, 2011 Try to get real silver at 'spot' ... joke. The two bears are here with part 6 on just this point. Pity about the foul language & bowel movement references though. http://www.youtube.com/watch?v=u9LcKcXpCDE&feature=player_embedded Link to comment Share on other sites More sharing options...
Errol Posted May 3, 2011 Report Share Posted May 3, 2011 Interesting at Coininvest: Silver 1Kg bar: $1745 ( $54.4 / Oz ) Silver Eagles : $55.54 / Oz ... Try to get real silver at 'spot' ... joke. Yes, I noticed this as well. Physical silver is still in short supply and at high prices. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 3, 2011 Report Share Posted May 3, 2011 2008 reloaded (nowhere near spot for retail bullion...)? The ratio almost at 37 now. At 60:1 I would convert back to Silverfinger. Link to comment Share on other sites More sharing options...
Perishabull Posted May 3, 2011 Report Share Posted May 3, 2011 2008 reloaded (nowhere near spot for retail bullion...)? The ratio almost at 37 now. At 60:1 I would convert back to Silverfinger. If gold gets up to $1600, and the ratio goes back to 50:1 (as per January) silver would be down to $32. Now there would be a buying op! If Ben Davies is right.... Link to comment Share on other sites More sharing options...
Pixel8r Posted May 3, 2011 Report Share Posted May 3, 2011 http://www.youtube.com/watch?v=u9LcKcXpCDE Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 3, 2011 Report Share Posted May 3, 2011 I think silver might have its moment now, like gold back when it first broke $1,000. Silver back to $25 is a possibility, before shooting back through $50 and beyond to da moon. If silver goes to $25 with the ratio to 60:1, or generally just the latter, I will truly turn into Silverfinger again. This PMs bull market will see the ratio at below 20:1. To the doubting folks, silver has just shown what it is capable of, at $50 and 30:1. This is a precursor only. As Pixel has pointed out, this correction is a good time to get some silver mining shares for cheaper. This is what I will focus on for the time being, as well as some uranium miners. Then, when the ratio goes back high enough, I will swap gold bullion back for silver again, to get the next ride up. I will not overtrade this though. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 4, 2011 Report Share Posted May 4, 2011 http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/3_Eric_Sprott_-_Sprott_Has_More_Physical_Silver_Now_Than_Ever!.html With silver recently plummeting from $50 to the $40 area, today King World News interviewed Eric Sprott, Founder of Sprott Asset Management to clear up some misperceptions about Sprott’s sales of PSLV. There is a great deal of misinformation out there regarding what Sprott was actually doing when SAM sold some PSLV. When asked about what has transpired Sprott remarked, “Well Eric in response to your question, any proceeds that we’ve received from selling PSLV have immediately gone back into silver or other silver equities. And I can tell you we have the highest position in physical ownership that we’ve ever had, and we have not lost one ounce of our encouragement for the outlook for the silver price.”... Our position in silver today in physical ounces is higher than it’s ever been.” Link to comment Share on other sites More sharing options...
signofthetimes Posted May 4, 2011 Report Share Posted May 4, 2011 lifted from the coininvest homepage.......... Osama bin Laden and Comex - a nice couple 2011-05-03 15:03 Osama bin Laden and Comex - a nice couple Nearly 10 years after the attack on the WTC, Osama bin Laden was killed by US forces in the night of 2nd of May 2011. “Justice has been done” were the words, President Obama used, after the kill of the public enemy number one. The market reacted immediately: the US stocks began to rise as well as the Dollar. Asian and European stock markets achieved a two-month high but the commodity market dropped down. But Osama bin Laden’s death was not solely responsible for yesterday’s price drop. Another fact influenced silver which had dropped about 10% in one day: Comex raised the silver margins for a second time in one week. Now you have to deposit a minimum amount of 16.200$ cash when trading silver futures – per contract. It is expected that traders will get used to this security deposit soon. Analysts don’t seem to see any reasons why silver should not rise again soon. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 4, 2011 Report Share Posted May 4, 2011 Just to have it on here too. I have owned IPT in the past, but don't want to add more silver miners currently. Hard enough keeping track of the ones I have and have been also adding some gold ones recently. I am starting to think that GPR's mine has it's limitations which Is why I have sold half recently. I also wanted to diversify into a few long-term plays (SLV & ECU). Here is a chart which I found interesting, ECU is now at around $0.47 per ounce inferred! Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 4, 2011 Report Share Posted May 4, 2011 ECU - how about feasibility? Can they mine that stuff economically? Link to comment Share on other sites More sharing options...
Pixel8r Posted May 4, 2011 Report Share Posted May 4, 2011 ECU - how about feasibility? Can they mine that stuff economically? They are already mining on a small scale to fund their drilling of the property. The location of the property is very well situated right next to a dual lane highway and grid power, they are also surrounded by other mines by big players like Goldcorp & Pan Amercian. They are concentrating on the drilling, proving up the deposit I think they will leave the move into major production to a large player via some sort of joint venture. If they can carry on growing the measured & indicated they will become very attractive to the large miners local to them IMO. The issue is is wether they can do this without much more dilution, they now appear to be using small scale mining to fund the extensive drilling. Here's a link to a presentation from March which has a lot of info about the location and potential size of deposit - http://ecu.ca/images/stories/ECU%20March%20Presentation-Mar.2011.pdf I have started a thread which has a bit more info and some links on 24k - http://www.24knews.com/viewtopic.php?f=8&t=533 Link to comment Share on other sites More sharing options...
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