I must admit I never thought SLW would get here. The powers to be have really hit hard at the PM markets. All the new money has been driven out and many longs as well I imagine have bit the bullet. I suppose if your time frame is where will SLW or my portfolio be by Sept or Jan you could easily be scared off of PM's. If however you are looking out to the future with inflation and $100 oil in the years to come I still think Sinclairs models are going to be proven correct. It has been and will continue to be quite a painful time for us holders. Eventually we will be rewarded I have no doubt. I bought more Krugerands today at $581 delivered. I will be a buyer of SLW , SVM and TRE when the reversal takes hold. As I said already I could not see SLW or the PM's going this low, this fast so I would never try to call a bottom. I will however recognize it after the fact and will be a major buyer then. For now I am stockpiling cash.
Perhaps i'm feeling just a bit stung, but I'm getting pretty tired of the talk of the "powers that be" and the nefarious dark forces that prevent us all from being millionaires. Could it be that this is market action that is taking lunch from our childrens' mouths?
Im not one for believing in nefarious "they" types. However I do believe there has been a concerted effort to drive PM's down why else would the commercials be shorting so hard and even when they are not they do not take the long side. that is unusual action for them. they tend to have one side or the other but rarely if ever are they out all together. Secondly there is no doubt the US is trying to jawbone its way into a stronger dollar and prepare the world for even more liquidity by choking some off now. This way the punchbowl won't be so noticeably overflowing. lastly I have always thought of you as a fairly conservative type and I would be surprised to find out you have invested money in PM's that is needed to feed your family. I hope that is not the case.
BTW can you re send me the stock you wanted me to look at. I never got to it and now can not find the post without looking through too many. I still love shiningbank even with the low NG prices. I may buy more.
Chin up Coup. We will be vindicated. I will also buy more ... taking a let fall attitude. Catch it on the up trend. How low can it go? Low ... but they made alot of money this quarter. And they will in the future. Will buy SLW before earnings and I am a buyer of physical Au and Ag this time. (Insurance, just in case the "experiment goes the way of past history). The fundementals are even more compeling. But the soap opera continues! The unbelieveable is possible. Wally World ... Sorry folks, but the park's closed... (John Candy) T Butler's article on kitco.com says it all. Silver Default Looming? Well is there, punk? Hang in there baby! I think this thing has the potential to explode!! Vilmuchka
I just wanted to add that I don't see any reason to sell my stock or phyisical. Read the Butler article ... something is not on the up and up as far as this market ... how can one "entity" have a short position in excess of 187,000,000 onces of silver??? Vilmuchka