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Silver Wheaton Corp. Message Board

quailrunrd 30 posts  |  Last Activity: Apr 14, 2014 1:59 PM Member since: Mar 30, 2008
  • Silver is currently up 2 cents but the miners are down 2% or more. And the dollar is levitating higher. Is there any viable reason for this?

    Our new and enlightened Federal Reserve Chairperson is calming the speculative Mainstream traders with her performance before the House yesterday and the Senate today. It seems that those Wall Street gamblers after listening the Chairperson preach to Congress have come to believe Yellen can put their old game back into play. She sounds so much like their previous idol, "Gentle" Ben Bernanke. And now they see she can sing the same songs that Bernanke was doing so well at doing. And so, taking a cue from Yellen's seemingly confidence in controlling the game, the old market practices based upon the Federal Reserve "put" have come back into play. And my take is that this renewed effort to keep the old game going will last until the end of the day...as in today.

    So I offer another one of my mindless predictions. Starting tomorrow, or perhaps Friday, reality will set back in. Gold will visit some number above $1300/oz and EXK will recover all of today's losses and push higher. Time will tell. And notice! We just got confirmation that our Congress still has no respect for debt ceilings and endless credit expansion is something we can all enjoy....from one election cycle to the next. GLTA

  • Gold finished the trading day at $1274. I can't even recall the number of gold market technicians and pundits who have predicted that a close above $1270 would then require shorts to cover plus trigger buy programs of all sorts that would push gold up to $1325 in a hurry. And if that actually happens, silver will definitely come along for the ride. (Regardless, the silver/gold ratio is way out of whack and is due to improve in any event).

    Can Yellen's testimony before the House tomorrow impact PM prices? One never knows, but it certainly seems like the stars are aligning for PM prices to continue their upward drive. Obviously, that would be great for EXK!

  • Obviously, don't make a decision based on a MB poster like a frivolous day dreamer such as myself. But I'm suggesting EXK will visit $5/sh by Wednesday's close if not a much higher price. And why? I'm guessing the markets will digest the unimpressive job numbers over the weekend and conclude that the economy is flailing in the wind and more Fed Reserve free fiat may need to be injected even though there isn't a whole lotta hope that it will do any good.

    Secondly, the debt ceiling has not been resolved and the credit rating agencies are hanging like bats in the belfry waiting to downgrade U.S. debt which obviously will impact the dollar negatively. That will catapult PM prices higher....good for EXK.

    Thirdly, the COMEX is running very low on physical and February is notorious for heavy withdrawals from the COMEX. PM prices could explode upwards.

    And, finally. The beginning of each week since the start of the year seems to have been favorable to silver and gold prices. We shall see if history repeats.

    As for day traders...EXK has become rather volatile with an upward bias. So if EXK jumps 10% or more, one might consider harvesting some profits on trading shares with a buy back on follow up 5% declines. But then again...who knows for sure. Keep an eye on the price of silver. EXK will not suffer declines with rising silver prices. GLTA

  • quailrunrd by quailrunrd Feb 3, 2014 1:05 PM Flag

    It just dawned on me! On Friday, we not only have the release of the monthly BLS report on the unemployment rate in the U.S. But we also have the deadline on the Federal debt ceiling. Surely those good stewards of our government sitting in their congressional offices in Washington D.C. realize our country has already spent the future tax revenues of our children, grandchildren, and great grandchildren.

    So what is left to spend? "RELEASE THE KRAKEN!"

    Sweep the god-awful debt ceiling under the carpet and raise our credit limit somewhere beyond Mars. As that economically gifted former vice president was always humming, "deficits don't matter"...and consequently #$%$ Cheney has become the most beloved Republican by Democrats of every stripe today.

    So many people have needs...free health care, food stamps,student loans, free pay after losing a job for more than 6 months, etc, etc. The military has so many needs for new toys and military adventures. If you simply "need" something, then the government will pay for it. It's like we run our government using the slogan, "Eat, drink, and be merry...for tomorrow we may die."

    If you think it's hard to put the cats back in the bag, just wait until we have to stuff the "Kraken" back into where he came from! Free credit is great....until it is not!

    And so what's my point? Friday and beyond should play out very well for silver, gold, and EXK

  • Reply to

    OT: Uh oh!

    by quailrunrd Jan 31, 2014 1:12 PM
    quailrunrd quailrunrd Jan 31, 2014 7:03 PM Flag

    One week from today we get the headline monthly unemployment rate published by the BLS. The unemployment rate is expected to go down several tenths of a percentage point since 1.7 million people were axed from long term unemployment benefits. Typically, significant changes in the unemployment rate move currency and PM markets. However, how long will the public attach any relevance to a much manipulated number , especially with crashing disposable incomes.

    But if the reported unemployment rate drops several tenths of a percent, won't the Federal Reserve be locked into continued tapering steps regardless of falling EM stock markets as well as G7 markets? Reactions to next Friday's unemployment figure should prove to be very interesting. For what it is worth, I don't believe a falling unemployment rate or continued tapering will negatively impact precious metals prices. If stockholders are rushing to the exits and dumping stocks en mass, do they rush to bonds with their new found cash or do they seek higher ground with silver and gold. Only time will tell but I'm hanging onto my core position of EXK for now.

  • quailrunrd by quailrunrd Jan 31, 2014 1:12 PM Flag

    U.S. workforce is shrinking. And today we find out that the "disposable income" of those remaining in the workforce....is crashing lower.

    Headline: "Real Disposable Income Plummets Most In 40 Years".

    "...when real disposable personal income drops by 0.2% from a month earlier, and plummets by 2.7% from a year ago, the biggest collapse since the semi-depression in 1974, something is wrong with the US consumer." -- Zero Hedge

    And just exactly what do those Ivy League economists at the Federal Reserve base their 2014 predictions suggesting an improving economy??? And why does John Q. Public continue to buy those myopic predictions??? Because if the truth was revealed by the powers that be, we serfs would become frightened about the future, start saving for hard times, and stop applying for credit to buy things we don't need (which now keeps the economy rolling along albeit in slow gear). And then the big banker boys would lose their million dollar bonus checks.

    Please please, Federal Reserve. Print up lots more free money. That will keep us buying. And don't worry about rising silver and gold prices. They're just barbarous relics.

  • Perhaps EXK has decided to curtail improvements to increased production levels in retaliation to new Mexican mining taxes. Perhaps they have slowed down expansion due to lower silver prices (temporary in time). But EXK has just announced they are no longer a growth mining operation but obviously they are a solid mid-tier miner with lower than average production costs. Nevertheless, how will investors view this transition? Hopefully rising silver prices will drive stock price higher. But the company has told us not to expect higher production output which we have experienced over the last umpteen quarters.

    My take....rising silver prices will eventually result in ever increasing EXK silver output. EXK's stock price may level out on the short term but still maintains a great reputation for solid production and with any rise in silver prices will definitely propel EXK's stock price higher. Time will tell. GLTA

  • Reply to

    EXK, the proverbial silver workhorse

    by quailrunrd Jan 21, 2014 11:58 AM
    quailrunrd quailrunrd Jan 21, 2014 12:44 PM Flag

    Blade. Perhaps you should just enjoy the ride up to $5...if we can get there. If EXK hits $5 by mid February, it would represent a 30% rise since Jan 15th. That is a huge gain for a month's trading but, of course, it may happen, and it may not. If it does not, then you've made your profits on the covered calls and you keep your shares. If $5 gets hit/exercised....just reload at that time. It's all money up to $5 so why not sit back and enjoy the ride? GLTU

  • EXK, like many of it's silver miner brothers, is in the green today even though the price of silver is significantly down. EXK seems to be shining above the others with presently a 3.49% rise on the day. Nice.

    Regardless, it makes one wonder what investors are seeing in the miners as the physicals falter. I suggest it could be a nice indicator of what is to come. Perhaps PM equity investors have grown tired of manipulation of physical prices which should soon draw to a close. GLTA

  • quailrunrd quailrunrd Jan 20, 2014 7:25 PM Flag

    The COMEX currently has future contracts covering 1232 tons of gold but only 11 tons of physical gold available for delivery. February of last year was a huge month whereby 40 tons of gold was "delivered" via the COMEX rather than rolling the paper over. The Comex now stands at record low physical gold available for delivery. Eric Sprott in a KWN article suggests there is a fair chance the COMEX will suffer a "failure to deliver" in the next couple of months....which would be huge for silver and gold prices in jumping higher.

    Time will only tell but things are definitely looking up with the London price setting "fixes" now coming under fire for "manipulation" and Deutsche Bank jumping out of the mix.

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