I see no reason to buy. This stocks is very weak. All it does is decline. If Silver does not go up, they will run out of money and production will be stopped. And the stock will fall under $10.
What buy signal? Time to take your losses. Now or at 17? How much pain can you tolerate. Try using a 10% stop loss. Buy on weakness and limit your losses. Another trick. Only buy stocks over their 50-day mvg.avg.
It's pretty simple. But you wouldn't be in the pickle you're now in.
I could not post the entire message so if you want to read it go to the above web address and click on Ted Butler commentary. You need to go to the website for the full story.
September 2, 2008
Fact Versus Speculation
What’s happening in the silver and gold markets is, without a doubt, the most sordid scheme in the history of finance. It makes a mockery of financial regulation and the rule of law. It allows a large financial entity, or entities, to rip off the investing public and gouge them for obscene profits.
It is cronyism, back-room dealing, market fixing and inside information at its worst. I am terribly disappointed and dismayed that such a thing could happen in our great country.
In the following paragraphs I will outline and explain how a major bank or banks, in likely concert with the U.S. government, pulled off financial shenanigans that will literally take your breath away. This is an outrage that cannot be allowed to stand.
The recent revelations in the CFTC’s Bank Participation Report for August provided stunning proof of concentration and manipulation in the COMEX silver and gold futures markets. Two U.S. banks held a short position in COMEX silver futures, as of August 5, of 33,805 contracts, or almost 170 million ounces, an increase of 138 million ounces in one month.
How can you apologize for this ratbrained good for nothing hobo Butler who led all of us to losses and ruins over these years? The more we lose the louder he shouts about conspiracy manipulators. He makes VP Cheney look like Mother Theresa.