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Silver Wheaton Corp. Message Board

  • kbononi kbononi Oct 17, 2012 11:11 AM Flag

    Silver today

    US$ continues its slide with the current price at 79.070 down 39.4 points adding more to yesterday’s fall as we head towards the 72.00 marker, Treasuries are under support mode and have been running in a sideways channel for quite some time now and is expected to do so at least till the end of the year. Energy Sector has been too quiet for my liking with Crude Oil trading at $92.20 up 11 cents with the rest of the sector as stagnant. Gold is adding more value as the dollar falls with the trade at $1,751.10 up $4.70 with a high so far at $1,755.0, Silver is up 10.6 cents with its trade at $33.065 after reaching as high as $33.170 with Copper the only metal trading lower. Grains are all trading against the falling dollar and are all in the positive mode for the early morning, Livestock Sector is higher with Hogs the only negative trade. Softs are mixed with Sugar/Cocoa/OJ moving higher, Cotton/Coffee trading lower, Paper Markets are mixed without direction in so far. Rumors have surfaced about Silver being moved from the COMEX warehouses over to England where a rather large purchase has been made. There are plenty of facts that are solid in the storyline proving the shortages are becoming more acute but the price remains still controlled with the trade ratio of 100 to 1 in the market. That is there is 100 pieces of paper for every 1 real trad-able contract out there. That means 5,000,000 of paper ounces are traded against 5,000 ounces of real product and our governing bodies have no problem with this kind of err, imbalanced leverage. We’ll let the markets figure out exactly what the real price should be, but in the meantime, we strongly recommend everyone hold purchased Call Options in Silver till the real price is calculated. That only requires money and time because the demand for physical is real, especially when the currency crisis accelerates and more of the sheep become aware of this real crisis ….. Stay Strong!!

    JB Slear

    Sentiment: Strong Buy

26.94+1.13(+4.38%)Jul 27 4:00 PMEDT