OK, I'll give it my best shot. Forget Silver as Currency, sure it has had value there for thousands of years, but it's subjective, no REAL supply and demand equations as the technology for getting the stuff out of the ground has improved. But it IS running out. PEAK SILVER, just like PEAK OIL is a very real possibility once youve got over 5 billion people on the planet ...and we've got 7 billion now. So we are depleting the silver we do find. But here's the real big one. PEAK OIL. PEAK OIL along with PEAK CARBON EMISSIONS CAUSING GLOBAL GREENHOUSE EFFECT (dont' like to use the term "warming", it's not just warming, its "life sustaining pattern destroying"), WILL LEAD TO SOLAR POWER ADVANCES THAT WILL NOT AND CANNOT TAKE PLACE WITHOUT THE CONSUMPTION OF SILVER. Here's some light reading for you:
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Sentiment: Strong Buy
Let me give you my perspective. Many on this board were expecting a slam dunk on the last earnings(me too). Exk missed earnings est and excuse seemed to be unexpected costs of their new property(El Cubo) We thoughtthe CEOCooke had held back inventory to sell at higher prices. Lo and behold he managed to sell inventory at the low price of the quarter. He said the costs of the new property would be a drag well into 2013. I am suffering like kingofthewasteland but I sold alot of covered calls(Dec 10s) at ave of .23. I intend to continue selling covered calls.
Steer clear of this one. Something is fundamentally wrong, as most every day it trails its peers as well as the price of silver. With all the QE momemtum and talk, this is actually down big on the year. Six months ago, this was $8, silver was $27, SLW was $28 and AG was $15. Now, silver is $33, SLW is $36, AG is $23 and this is still $8. The market is telling you something. There are a lot of longs hoping for a bounce at some point to make up for the long period of underpeformance, and that in itself will limit any upside as people will sell any rally.
The man attempting to scare you away holds a short position. If you are unaware of what that is, It is a trade where one profits from the decline in stock price. All miners are down across the board, this one a bit more because they purchased a mine and are developing it. If anything you would want to buy a stock that has been additionally hammered because the upside is larger than its piers. All you need to wait for is next Wednesday when the FOMC meets and announces I'm guessing $80 Billion/month QE. That is what will rocket this entire sector. $12 by March
The man attempting to "scare him" is not short and probably has more shares than you, chitrader. And by shares i mean real shares. Not the paper ones you hold. I'm trying to save the lad some pain. He's probably new and wants to invest some savings. Why are you trying to bankrupt him by pumping this garbage stock and company? What chemicals are you people on this board on? What is so wonderful about this underperforming turd? I've been trying to figure this out since i started hearing about exk from other miner boards in 2010. How much is bradford paying you guys to act like this is a solid company? Look at it! How many quarters have they missed? Like 9 out of the last 10? 12 by march huh? Let me tell you something....if exk is 12 by march or even near it i vow to come on this board every day in march and pay obeisance to you pumpers. I will even compose a fresh poem daily that praises bradford and post it all 31 days of the month.
Yeah, there's a recent interview with Dr Stephen Leeb on King World News, It's easy to find if you search for it. He makes the bull case for silver, and for silver stocks. He points out there aren't many mines with are primarily silver producers. He thinks gov'ts will have to crack down on silver, that's it is just too useful and strategic to allow people to own it, and when the crackdown comes he sees silver prices soaring. He wouldn't say how much, but he is incredibly bullish on the metal. There's also a discussion on recent market manipulation in the gold markets.
This recent pull-back is not all bad, it might have let some folks back in cheap, like stevie-hono=trader and JW.
Sentiment: Strong Buy
Hey ulp63. Welcome to the world of exk. You'd like me to sell you on it huh? Ok, let me try. Do you like stocks that are always down? Do you enjoy waking up to a sea of red, day after day? Do you like silver miners that go down when gold and silver are up and further down when they're down? Do you like stocks that pay no dividend, do no buybacks, and haven't seen an insider buy since the jurassic period? Do you enjoy stocks that underperform their peers 2:1? Do you like stocks that miss estimates every single quarter? Do you enjoy eating Top Ramen and find having a roof over your head to be "stifling"? Then feel free and buy exk.