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Silver Wheaton Corp. Message Board

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  • cmegladon cmegladon Dec 11, 2010 12:07 PM Flag

    Reducing short positions in silver

    If you think I am defending JPM, better re-think that idea.
    I am long silver.
    Have been long (gold and silver) for close to 2 years.
    I am not defending JPM. I am NOT a believer in the conspiracy theory you and others seem to be banking on.
    I am a fundamental long on PMs having nothing to do with the Silver Groupies.
    His entire argument banks on a corrupt CME, CTFC, price manipulation (when it works to his favor).
    I simply believe PMs go up in the new world environment we have, Post 9/11 terror, dollar debasement, debt monetization, etc etc.
    All market followers have notions they are being screwed by some conspiracy when the price of the object of their affection goes down. Thousands believe their stock, bond, commodity is the target of a conspiracy when it loses value.
    Silver's gone from $4 to near $30.
    Gold seeing new highs except the "Groupies" complain that adjusted for inflation they are too low. (lol)
    Will they go higher? Yes, if this economic and geo-political environment continues. And I'm betting it will.
    So I won't shoot at you because you obviously do not know who you are debating. Not do I.
    But his article only makes sense if you believe in the JPM conspiracy theory.
    I won't bank on it. I'll bank on real world fundamentals.

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    • You promote another view, so you get and will continue to get crushed on this board by the groupie's minions. I like some of the groupies, but I get where you're coming from. With every missed, passing marker of JPM's destruction (i.e. the much ballyhooed 27.50 number), the JPM short squeeze seems more like a pipe dream.

      Could it be, pumpers and zealots, that while silver does have supply constraints that will up its price, that the promoters (or, what CME calls, pejoratively, the groupies) are causing froth with conspiracy theories about dynamic market controls by big international corporations in a game to get scared money into the PM market? One good conspiracy theory deserves another, no? But that's not really a conspiracy theory...that's just marketing.

      Oh, and I love the new one: a shadowy group of Asian buyers will now crush JPM and already have them trumped.

      Disclosure: Long physical, FCX, SLW, PSLV, and admitted Eric Sprott ball washer

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