Silver

[REO 54]

Is there an e-bay chart that tracks thier metal sales? That would be an interesting chart for comparison also.

[bemac]

Is there an e-bay chart that tracks thier metal sales? That would be an interesting chart for comparison also.

Not that I know of, but there's a live chart...
http://www.ebay.com/sch/i.html?_nkw=1oz+silver+-morgan+-copper+-replica+-copy+-plated+-clad+-china+-chinese+-german+-nazi+-peace+-florin+-casino+-germany+-peso+-pesos+-certificate+-certificates+-gram+-dragon+-clad+-plate&_sacat=11116&LH_Auction=1&_sop=1&LH_Price=10..70%40c&_odkw=silver+-morgan+-copper+-replica+-copy+-plated+-clad+-china+-chinese+-german+-nazi+-peace+-florin+-casino+-germany+-peso+-pesos+-certificate+-certificates+-gram+-dragon+-clad+-plate&_osacat=11116&_trksid=p3286.c0.m270.l1313

:s13:

[Strawboss]

"I've missed more than 9000 shots in my career. I've lost almost 300 games. Twenty-six times I've been trusted to take the game-winning shot and missed. I've failed over, and over, and over again, in my life. And that is why I succeed."

--Michael Jordan

[Strawboss]

Here is an updated MONTHLY chart for silver. It doesnt get any more bullish than this.

15999

[Anakin]

Here is an updated MONTHLY chart for silver. It doesnt get any more bullish than this.

15999

I am grateful for having seen that chart. It helps to step back and improve one's perspective.

[andial]

I am grateful for having seen that chart.

Yeah, me too. I don't even want to say something for fear of disturbing it. Just quietly sneaking a look.

[Rivers]

That chart also has a bearish tone if you look at it since the high of $50 was put in last year. Draw a line across the tops since then. Could be a new downtrend. Look what happened on 2-29-12 when it hit that line (resistance?). Just a thought, don't shoot the messanger, but we could retest the December lows.

Also, the talk now is that the ECB and other creditors can (possibly will) confiscate gold from Greece, Portugal, Italy etc. if/when they can't pay or default on their debt. Alot of foreign gold reserves are held in New York by the Federal Reserve. Somehow that seems a bit bearish. Especially so for those holding paper PM's!

[southfork]

That chart also has a bearish tone if you look at it since the high of $50 was put in last year. Draw a line across the tops since then. Could be a new downtrend. Look what happened on 2-29-12 when it hit that line (resistance?). Just a thought, don't shoot the messanger, but we could retest the December lows.

Also, the talk now is that the ECB and other creditors can (possibly will) confiscate gold from Greece, Portugal, Italy etc. if/when they can't pay or default on their debt. Alot of foreign gold reserves are held in New York by the Federal Reserve. Somehow that seems a bit bearish. Especially so for those holding paper PM's!


Why would the bankers want what they readily admit to it being a barbaric relic such as gold? :s10::flute:

[Rivers]

Bankers, as in "Bullion Banks" are said to have significant short positions. If so, confiscating gold would give them more control over prices. Just a thought.

[ralleia]

Up, down, I don't really care at this point. (Actually I'd like another move like Feb 29 at this point.)

I loaded up on paper silver yesterday, and in a few days when we get some money moved I want to load up on physical. If silver decides to retest December lows and allows me to buy that much more I'll be dancing. :elefant:

[Strawboss]

16080

Just sayin'...

[bemac]

Not today. ;)

[Strawboss]

16097

I think silver has about bottomed.

[Weatherman]

I think silver has about bottomed.
Another excellent and timely call, Boss! :clap2: :emotions16: :emotions15:

I only wish you had called the bottom a few days ago, so the silver market players would have known better than to send silver prices lower yesterday. :haha:

[Strawboss]

I think the coast is clear and its safe to jump back in the water.

Take a look at this daily chart for Silver Standard. A bullish engulfing candlestick is a high probability signal of a trend reversal indicating that we have in fact see the bottom.

16745

[bemac]

Eric Sprott just filed a 6-K in Canada so that he can buy an additional $1.5 BILLION in silver (PSLV was $500 million). This may be approved in as little as 2 weeks from now.



Was this approved? Any updates?

[Strawboss]

Was this approved? Any updates?

Yes it was. Sprout has already used 20% of it.

[Strawboss]

A note I sent to a friend that is very despondent on how the mining equities have performed...I felt it might also be of value to some of you.


Stay strong. Don’t give the bastards the satisfaction!

History tells us that in a negative real interest rate environment that gold will be an attractive option. Our eyes tell us that there is no hope for a positive real interest rate environment anytime soon. So, the conclusion is that gold will continue to rise. If gold rises - silver will also rise (albeit more volatile). That, in a nutshell is the case for gold/silver.

I heard a trader on TV (forget what show) that said something that reinforced to me that we are in fact heading much higher and that the pain is over (or almost over).

He was talking about how cheap the miners were in relation to gold and he was talking about a spread bet to take advantage of that.

His strategy was to short gold and go long the miners.

You KNOW there are a multitude of spread bets out there currently that are long gold/short miners. Logic tells you that they cant keep suppressing the miners if gold keeps rising. Logic tells you that at some point soon - those spread bets are going to need to be taken off (or reversed). If gold keeps rising, the P/E ratios of the miners will be blatantly apparent for all to see.

You and I and others have endured much pain with the miners these past couple of years. All the hope and promise and expectation and anticipation and all that... instead, all we have gotten mostly is slapped in the face.

We are survivors. We are the few that see clearly what is going on and are trying to do something about it - each of us in our own small way. We have been beaten, bloodied, abused, kicked, shoved, lied to, manipulated, stolen from, etc... and yet we are still standing, still seeing clearly, still confident in our world view.

We are on the right side of history. We are on the right side of "honest money". We are the ones that have taken the red pill.

As you know very well - it takes balls of steel to play in this sandbox.

[bemac]

Our eyes tell us that there is no hope for a positive real interest rate environment anytime soon.

That's what I see, and quite clearly.

[krugger3]

quote: You and I and others have endured much pain with the miners these past couple of years. All the hope and promise and expectation and anticipation and all that... instead, all we have gotten mostly is slapped in the face.


And pissed on, I've been pissed on to.

[silverwood]

A note I sent to a friend that is very despondent on how the mining equities have performed...I felt it might also be of value to some of you.

Hi Strawboss, tell your friend the mining shares are in a bull market. All bull markets go through different phases. Currently the miners are in that part of the bull which passes through the rear of the bull, the bull $hit phase.:p

[jelly]

Sinclair's TRX has been busting some moves lately. I wish I owned more than I do.

[krugger3]

Silverwood, that is funny but true. The stocks need to get it in gear and start some sustained move up, the last year has been ugly.

[Gcubed]

I dunno. How low can she go?

17378

[REO 54]

I dunno. How low can she go?

17378


Uh.....which part of the chart was I supposed to focus on??

[jelly]

Its been too quiet in here lately, so I will toss out some food for thought...

Silver is going nowhere right now, and it's making me nervous. $31 seems to be the line in the sand at this point. If we break below that, who knows where it will stop... $20, $26? A week ago I was pretty bullish on silver, but I'm becoming more cautious as silver goes sideways.

C'mon silver, make some moves! show us what you got!

[Strawboss]

Here is a bit of very positive news for silver...


The Shanghai Futures Exchange (SHFE), China's largest market for commodities, issued a draft Tuesday, outlining the upcoming launch of the exchange's silver contract, China Securities Journal reported Wednesday.

The launch of silver futures trading on the SHFE will help silver-related companies hedge against silver fluctuations in the world market, give China more sway in determining global silver prices, and offer another investment option for the nation's small investors, experts told the Global Times.

China's miners, manufacturers, retailers and other enterprises, which rely on the precious metal, will undoubtedly welcome the start of domestic silver futures trading, which will allow them to hedge against fluctuating global silver prices, Li Ning, a gold analyst from Shanghai Cifco Futures, told the Global Times.

China's silver producers would likely short sell the contract in order to offset financial losses if global silver prices slump, while manufacturers will naturally turn to holding long positions in the future if concerns about rising silver prices emerge, Li explained.

The daily trading volume of delayed silver product at the Shanghai Gold Exchange skyrocketed by nearly 300 percent between September 2008 and September 2011, according to a report from Everbright Futures Co Ltd.

The country's high trading volume and booming demand for silver - which is a key component in high-end electronics, solar panels and luxury items - make this the perfect time to start silver futures trading in China, Li added.

The launch of domestic silver futures trading would also attract small investors with limited capital to the metal market, Sun Yonggang, a metal analyst from Everbright Futures Co Ltd, told the Global Times.

Unlike the gold futures contract, which is priced beyond the reach of many small investors, investing in silver futures could require a cash outlay of as little as 6,000 yuan ($951.97), Sun calculated based on the draft.

The SHFE's draft sets the minimum margin rate of silver futures contract at 7 percent, and its trading unit at 30 kilograms.

http://www.globaltimes.cn/NEWS/tabid/99/ID/705561/SHFE-paves-the-way-for-silver-futures.aspx

[Weatherman]

Both Goldcorp and Agnico-Eagle have had production issues which resulted in reduced stock prices. This article makes the helpful point that the big majors can weather the temporary problems and recover the lost stock price.
Snip:

The lesson? For big, diversified miners, operating problems are seldom permanent or decisive. Mines have their ups and downs, and technical snags usually get fixed, after which production, costs and cash flow return to plan. And even when they don’t, one mine’s shortfall is frequently offset by pleasant surprises at other mines. That’s the attraction of the majors versus the juniors: If a junior has just one or two properties and one of them fails, it’s an existential threat. If one of Goldcorp’s mines underperforms, it’s one bad quarter (defined as only a slight increase in operating profit) followed by a return to normalcy.

This is not to say that majors will outperform the best juniors — they probably won’t — but it is a lesson in how to play diversified miners: If you’re confident that gold will rise from here, operating problems that crush the share price of an Agnico-Eagle or Goldcorp represent a buying opportunity. The worst case for a company like this is that it can’t fix its problems in the near term and becomes a buy-out candidate, probably for a premium over its post-bad-quarter price.

http://dollarcollapse.com/gold/a-tale-of-two-gold-miners/

[Weatherman]

Could this ring a bell that begins a M&A rush into under priced miners?


An Acquisition in Gold Country

Canadian gold miner Yamana Gold Inc. (NYSE: AUY) announced this morning that it is acquiring Canadian junior miner Extorre Gold Mines Ltd. (AMEX: XG) for a total of about $395 million. Yamana will pay Extorre shareholders $3.50 in cash plus 0.0467 of a Yamana share for each share of Extorre common stock. The price is a premium of 54% to Extorre’s 20-day volume weighted average price, and represents about 3% of Yamana’s pro-f
orma market cap.

Yamana’s CEO said that while the company plans to continue its focus on organic growth, the company would also look for “tuck-in acquisitions in mining-friendly and familiar jurisdictions that fit our other criteria including opportunity for organic growth, accelerated path to development and production and high return.” Extorre is just such an opportunity.

Extorre’s main development is taking place in the Deseado Massif in Argentina’s Patagonia province, a relatively unexplored gold and silver region. The area has attracted a number of junior miners and last year South Africa’s AngloGold Ashanti (NYSE: AU) took a 19.9% stake in Canadian junior Mariana Resources Ltd., which holds properties in the Deseado Massif. Goldcorp Inc. (NYSE: GG), Pan American Silver Corp. (NASDAQ: PAAS), and Coeur d’Alene Mines Corp. (NYSE: CDE) either have joint ventures or their own operations in the region.

Other junior miners in the region include Toronto-listed Mariana Resources, Minera Andes Inc., Minera IRL Ltd., Patagonia Gold plc, Mirasol Resources Ltd., and Argentex Mining Corp. It’s not a stretch to think that these companies have just become more attractive to some of the major gold mining firms.
http://247wallst.com/2012/06/18/an-acquisition-in-gold-country-auy-xg-au-gg-paas-cde

[anywoundedduck]

I think the
Could this ring a bell that begins a M&A rush into under priced miners?


http://247wallst.com/2012/06/18/an-acquisition-in-gold-country-auy-xg-au-gg-paas-cde

I think the question is, which position should you hold if M&As become the rage in this sector? You could easily be on the losing side.

In 2006, when Goldcorp took over Glamis, I lost my ass because I held Goldcorp. And then, I lost even more when Goldcorp split off Silver Wheaton, without the shareholders getting a dime. Crooked CEO at work in both instances. He and his board made millions.

On the other hand, during the same year, I owned tons of Desert Sun (a junior) that was taken over by Yamana. I think I made 10X my money on that deal.

So I don't really believe that holding the Mega Miners will be profitable in this enviornment. I would opt for the juniors with a great and experienced management. I would rather not say what I own now, because they have decreased in value over the last several years, but I expect I will be making lots of money should the M&A pick up.(at least, I hope)