I call it desperation by the short sellers. Throwing in more naked short sales to bring down the price one level lower. They just don't get what they want.
They are not alone in being up. HL, ANV and MRZ.V (all Silver players) are some of the others.
So maybe something is about to happen in the price of silver.
$4.77-4.78 retested three times. The shorts will be in a hurry for gold and silver cannot be contained any longer.
I am waiting for silver to run away, but it may not be able to do so without gold coming along. The USD/Ruble is going vertical up, while oil is going vertical down. This will have to reverse somewhere.
The major markets in the world have become instruments for delaying the inevitable.
Just the beginning of more volatility. Oil, Nikkei, trades are unwinding and unraveling. Time for silver and gold to show their real worth.
If coal and company are willing to short an additional 11.5 mln shares, we might get those shares even at $5.
I just had a look at the purchase of Orko silver. CAD 100 mln plus 11.5 mln shares (and some warrants).
Actually, buying back those 11.5 mln shares wouldn't be a bad idea, if they could do that at an average of $7/share.
"i would like them to buy back shares used to fund joaquin and preciosa along with couer capital and thats it( it helps rationalize those moves present day)-"
Ed, how many shares would they have to buy back for that?
Rome can be read as More or simply, Greed. More has reached its limits. The Crony hedgies are making everything built up by hard work collapse.
Another reason. Gold will rise in a deflation scenario as much as in an inflation scenario, so under deflation costs of miners will go down, while gold revenues will increase due to a higher gold price.
Apart from that, Coeur has turned an important page and has become so much more cost-efficient, while it is discovering exploitable higher grades.
No, total non-sense, what you are saying. As usual.
When gold and silver rise, the miners will rise much faster, because the naked short hedge funds (you know what I mean) will have to cover even more than the naked shorts in silver and gold.
And it is time that the SEC looks into the dubious role of Market Makers.