The article says that Sprott is moving to lift the restrictions on 26% of the CEFs OS that he owns in order to sell.
What is that going to do for PSLV longs if he dumps those shares ?
Very old news. Sprott had the shares registered in the first part of March.
Why would he "dump" his shares? He has no interest in making the value of his funds go down. He may sell some shares if he deems it will be profitable, but I'm sure that in his own best business interests it will be done judiciously and without disrupting the market for the Sprott Funds.
Old news ? okay, this was released @ 4:30
I guess you have already seen it.
Now you can ask him why he dumped shares while spot silver was in the upper $40's after mouthing the words "Silver is going to $100 an oz."
Of course that is old news.
I bet you have already rationalized Sprott's Sales last week. I wonder how much he will sell this week ?
"Denial" is not a river in egypt. :)
Like I said, I am waiting to buy back into pslv. It may become "Very" much more attractive.
Say what you will, look @ the share price. He sure did want to have that option available, (the ability to dump 26% of the shares), for himself and his associates for some reason. Didn't he ?
The correction has started.
How steep ?
How deep ?
We will know soon, Monday will probably be ugly for PSLV and silver longs. Thats life.
When this correction is over, silver will again, rise as the dollar falls.
THE US DOLLAR WILL RALLEY, AS NEWS OF OSAMA BIN LADIN, DIES OF LEAD POSINING.
It will not take long, for the market to understand, the FED will continue to print QE3 and QE4.
The weak hands, will sell in fear. Those who purchased 3 months, 6 months ago, are sill strong. The smart money will be buying on this dip.
Sprott is not going to sell anytime soon. (BTW this registration is really old news.) why would he sell if he thinks Silver is going to go up a lot more from here? He went through a lot of trouble buying the physical, and knows what the potential for silver is. If silver does go to $200, well that is a different question.
Why would Sprott sell? Sprott has stated, he believes, silver is going to at least $100.
Silver will have corrections, before this over. Steep corrections. BUT IT AINT OVER.
The US Dollar will continue to crash over the next 5 years. Silver will continue to $100 or $200. Somewhere, much higher than today.
Enjoy the ride. You can try to time this - good luck.
We are moving so far so fast from $40 to $50, Id expect a correction, as most do, look that the wild swings in the mining stocks. But in a few weeks, when silver is holding firm above $50, the next leg higher will have started.
Shorts get killed here.
Good luck, enjoy the ride.