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Hecla Mining Co. Message Board

  • norbertdt norbertdt Jul 27, 2013 6:08 PM Flag

    JP Morgan withdrawal from commodities trading

    Someone on this bd indicated that Morgan was resposible for controlling the price of Hecla. If so, what effect will their withdrawal from silver commodities have on the SP of Hecla. I would assume it would fluctuate more closely with the price of gold and silver.

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    • norb,
      1. JPM is or is not *directly* responsible for controlling the price of HL (unproven), but they are and have been responsible for controlling (depressing) the price of silver (proven), so *indirectly*, they have been responsible for controlling (depressing) the price of HL (management has done the rest for them).

      2. JPM *is* withdrawing from commodities trading (due to aluminum and energy scandals).

      3. JPM is *not* withdrawing from precious metals trading or ownership *or* control. There is no govt agency overseeing that market, and if there was, they have no interest in actually overseeing and regulating stay in gold, silver, platinum and palladium JPM will.

      4. It seems (anecdotal but unproven, yet plausible and likely) that JPM is nearly or actually net long in silver currently. If they are, we can expect a rapid price rise as the speculative shorts get reamed by JPM, as the spec longs did on the way down.
      Such is the nature of control.

      5. If and as #4 is revealed to be true, HL stock should rise precipitously, about the same as it fell.

      still holding 25,000+ HL, net up 30% right now, will be up 500% again before long, patience will be rewarded.

      Sentiment: Strong Buy

    • Closing out the massive short positions will be positive for Silver and hecla. JP may even go long the metals stocks to take advantage of the other side of their manipulated trade. Enjoy the ride!

6.00-0.05(-0.83%)Sep 23 4:02 PMEDT