1) No one seems to notice the USD Index! This has dropped to below 89! It is wonderful support for silver and gold.
2) Silver and gold are being supported by other important metals (Palladium, platinum, copper, etc...)
3) The first comment is a reflection of the general disgust the rest of the world has with the US. More money is going to move into precious metals.
4) We are an index component now! Forget the pop when funds have to buy now. The bigger issue is we are on the radar screens of 1000s of more potential buyers. SLW is becoming big time!
5) The average $0.12 a day rise this week augers very well for some big fireworks next week and maybe the following.
6) Quite a few technical analysts out there that I feel are very good are showing convincing arguments for major move over the next few weeks.
7) My own experience the previous week with Etrade not having ANY shares available to short says we may even see a short covering rally. I also suspect those short positions were used to keep SLW below $10 for the option's expiration this week (though I did not check the open interest on this month's options; anyone out there know how many 7.50 and 10.00 calls and puts?)
8) My bet is the ETF fails for supply reasons and silver zooms on the news. I do think exchange-grade (1000oz assayed bars) silver is tough to get a hold of; there is no way they are going to logistically be able to hand or afford smaller forms of silver. Maybe the ETF is going to have to be forced into a long term supply agreement with several mines. In the early stages they would have nothing except forward sale documents which would be replaced by physical. Every mine out there has to make regular sales to fund operations. There is no reason why the ETF can't use the mines as a dirrect source. Some may be interested in getting current POS on future production to fund purchases/expansion of existing capacity.
Even if we don't have a huge up move next week, I'll take $0.12 a day!
<<Is that how you got so rich? By selling your possessions at 20% of fair market value?>>
What are you talking about, I said I would sell you two parkeing spaces for 100K, I never said where. Man you would think someone as smart as you would have asked that question.
By the way I have some land on the moon I will sell you for 50K, if your interested.
<<Or did you inherit the house or the money to buy it? >>
I inherited NOTHING!, when I graduated from college I had over $30K in student loans.
<<But I think I remember you are the same poster that said something about trading in and out of SLW with 50K shares.>>
Never sold a share of SLW ever, I am an investor not trader. Trading works for some, investing works for me. I have a little over 100K shares right now, been buying since the dip to the low $6 dollar range. Almost all of my share are under $7.
<<I will understand as I am one of those evil, gay, liberal, peace loving AMERICANS you hate so much. >>
I am glad to see in America you can admit freely that your gay. Try that same sentence in the middle east and see what happens to you.
What makes you think conservatives aren't opposed to big, bloated, inefficient federal gov't? Also, I don't consider libertarians to be liberals--hell, I tend to lean more toward being a libertarian than being a straight-up Republican. Regardless, we are all here to get rich, and so it entails that I will follow the money... wherever the next big bull run will be. So, it really doesn't matter what your opinion of the current administration is--in fact, I haven't one, cause I know this gov't's problems run deeper than anything Bush has done. We are all in gold/silver because we are following the money.
The south can't tie it's own shoes. It's a bastion of ignorance and bigotry, wrapped up in a big Jesus bow. I was at a bar in suburban N. Orleans 2 years ago that had a noose hung behind the bar.
Hmm, why is the military 80% from the South? Perhaps because southerners don't have the education or initiative to get actual jobs. 98% of military work is the ultimate in suckling at the government teat.
The best thing that ever happened to the US was the crushing of the South in the Civil War.
<<<<Hell I would sold them to you for 100K.>>
Is that how you got so rich? By selling your possessions at 20% of fair market value?
<<<<now you just proved what idiot you really are.>>>>
ROTFLMAO @ acd
Im curious too. How did someone yor age ( under 50? ) pay off a $500K house. Or did you inherit the house or the money to buy it? But I think I remeber you are the same poster that said something about trading in and out of SLW with 50K shares. So I guess you must be very wealthy. How did you get so wealthy if I may ask? If you do not care to share I will understand as I am one of those evil, gay, liberal,peace loving AMERICANS you hate so much.
<<500K house... wow... my two parking spaces in HK go for about that... >>
Wow you paid 500K for two parking spaces, now you just proved what idiot you really are. Hell I would sold them to you for 100K.
Here is how it works, since it is brand new construction, and we moved in Oct 2005, the home valuation is 60% of the sale price which is 300K. Second because I live in FL and we have Homestead Exemption of 25K, so I get taxed at 275K value.
My tax is:
District Code Taxing District Taxable Value Millage Rate Estimated Taxes
GS or USD1 Jacksonville $275,000.00 18.5755 $5,108.26