Archive through April 02, 2004

Chart Forum » Forex » Silver on the up and up » Archive through April 02, 2004

«« « Previous Next » »»

Author

Message

susieq

Member

Post Number: 212
Registered: 12-2002

Rating: N/A
Votes: 0


Wednesday, January 28, 2004 - 07:59 am:

Hi all

A few weeks back I posted that gold and silver may have been overbought according to the asian investor website, and lo prices plummetted.

Gold has bounced back a little overnight but silver has jumped from 6.30 to 6.51

good news for those in MMN

SusieQ ( holding mmn on a very loose stop)

eblode

Member

Post Number: 25
Registered: 11-2002

Rating: N/A
Votes: 0


Wednesday, January 28, 2004 - 08:49 am:

Hi SusieQ,
I,m holding MMN but am not too happy as I thought it would of moved up higher in the past month. Hutcho was right when he sold out and felt that MMN did not have much steam left. I'll keep it for health reasons.....this way I don't have to have a laxative.
Cheers
Eugenio

archer

Member

Post Number: 97
Registered: 11-2002

Rating:
Votes: 2


Wednesday, January 28, 2004 - 09:18 am:

Hi susieq
Here is an interesting article about the Hunt brothers and their attempt at cornering the silver market in the 70s
http://www.gold-eagle.com/editorials_04/laborde012704.html
There is much much much less silver available in todays
world and i believe history is about to repeat
---Archer---

susieq

Member

Post Number: 213
Registered: 12-2002

Rating: N/A
Votes: 0


Wednesday, January 28, 2004 - 11:08 pm:

Archer

excellent read, thank you

SusieQ

rederob

Member

Post Number: 5
Registered: 10-2002

Rating: N/A
Votes: 0


Saturday, March 06, 2004 - 10:08 pm:

susieq
I see a long gap between posters.
Silver tipped $7 on Friday and has much more upside.
Moreover, so has Macmin.
On 4 March Macmin announced its intention to move into production - a promise it made some time ago when it said it would wait till silver hit AU$9/oz.
What is curious about silver is that is outstripping gold (percentage-wise), and will likely continue for some time.
Combining the features of both a commodity and a store of value (hard currency rather than fiat money), it will continue to track with metals markets in the foreseeable future.
For those interested in trends, silver peaked in the late 70's early 80's coinciding with booming commodity prices.
Putting the Hunt's debacle to one side, we are seeing another mineral commodity boom and silver will one of numerous beneficiaries.
As a guide to further upside one can examine previous highs for a basket of base metal commodities and extrapolate the silver price from this.
As a minimum we are looking at another 20% for the silver price over the next year.
But this just supposes silver is acting as a commodity.
I remain exceptionally bullish on silver for many reasons, but mostly because it's in severe shortage and futures dealers will soon be caught so short the price will go through the roof.
By the way, if you wondered about silver's many uses, including its decline via digital photography, read: http://www.financialsense.com/fsu/editorials/2003/0822.htm
I too have MMN, and may buy more if it dips below 20cents again

eblode

Member

Post Number: 38
Registered: 11-2002

Rating: N/A
Votes: 0


Sunday, March 07, 2004 - 08:26 am:

Hi Red,
So far it all sounds great but little has happened with MMN to date. I do agree with you but time will tell. Look what happened with all the hype about Copper and then TYC goes down like a stuck bear. However I am hedging my bets by getting into CBH Resources. This crowd is into Silver, Lead, and Zinc. All future winners in my opinion. I had bought MMN previously for health reasons. The laxative worked.
Cheers,
Eugenio

rederob

Member

Post Number: 7
Registered: 10-2002

Rating: N/A
Votes: 0


Sunday, March 07, 2004 - 09:25 am:

Eugenio
I trade on fundamentals - mostly buy, add more on improving trends and seldom sell unless the tide has well and truly turned (or the swell is overwhelming).
MMN will not have produced any silver for the next 12 months given they are building and commissioning their plant till March 2005.
This leaves MMN's upside in the hands of silver price movements rather than company profits - as an optimist on silver, I see this as very beneficial.
The other factor to consider is that their Texas project has not been thoroughly explored and they are embarking on a major exploration program - the chances of finding more silver seem better than reasonable!
The Macmin management team are consumate professionals, and have worked this project to the plan they spelled out to investors years ago.
We might not make a lot of money on MMN, but it's certainly one of the safer explorers that now moves into production.
Maybe you can swap laxatives for a natural dose of ecstasy?
By the way, when gold peaked over 20 years ago it was not in the severe short supply it is today - the Hunt brothers were in dreamland if they thought they could corner the market then. However, if they tried today, they most likely could.

archer

Member

Post Number: 113
Registered: 11-2002

Rating: N/A
Votes: 0


Sunday, March 07, 2004 - 05:35 pm:

Hi rederob
Good to see another silver fan
Have you looked into MMNs holdings in NGG
Ive been a big silver bull for over a year
http://forum.incrediblecharts.com/messages/8/46731.html
http://forum.incrediblecharts.com/messages/8/131068.htm
l believe china will do for silver what the Hunts couldn't
but i think NGG could potentially be worth more to MMN than
its silver deposits
All the best----Archer---

rederob

Member

Post Number: 9
Registered: 10-2002

Rating: N/A
Votes: 0


Sunday, March 07, 2004 - 07:59 pm:

Hi Archer
Have read some of your posts and note that you, too, read a lot more than the average punter.
Macmins NG Gold finds are impressive - hard to believe the results they get from shallow ditches!
That said, gold will continue to do well as the dollar margins are considerable compared to silver, where the percentage increases are doing better than gold.
I suspect a lot of people just don't do the maths.
For example, a miner producing 100,000 ounces of gold can earn an extra million dollars if the price goes up about 3%.
Whereas a silver miner producing a million ounces of silver (ten times more than the above gold producer) needs a 15% increase in price for the same return.
Given that most silver is a by-product from copper or gold mines this discussion is generally academic but for MMN which is a pure silver play.
And the coup de grace?
Given silver's tight supply, a doubling of silver's price is not only possible, it is very likely.
Copper, which is also presently in tight supply, is going gangbusters - I see silver following a close (albeit belated) trend to copper and departing from gold's clutches in the medium term.
I followed through silver's price charts since the 1970s and have tried to extrapolate a reasonable "par value" for silver in a commodity bull market.
I think silver at $15 (a doubling of present price) is actually understated value and consider $30/oz more realistic - and put a 3year time frame on that price.
I GUESS THAT MAKES ME A SILVER BULL!
Either that or plain stupid for thinking so optimistically.
Back to MMN: if my irrational exuberance comes in, I will very pleased and trust the NGG to put some icing on the cake.

archer

Member

Post Number: 122
Registered: 11-2002

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 02:35 pm:

Good stuff rederob
I would say we are pretty much equally bullish on silver
Have you heard the rumour the chinese have tied up 75%
of the total 2005 world silver production through the futures market
I dont take too much notice of rumours in this profession
but were there is smoke there is usually fire and as i
posted on another thread when i recently tried to purchase
more silver bullion bars i was told by the coin shops
"Sorry we can't supply you silver at the moment"
Interesting times
-----Archer----

rederob

Member

Post Number: 10
Registered: 10-2002

Rating: N/A
Votes: 0


Tuesday, March 09, 2004 - 11:03 pm:

Archer
Bill murphy (GATA Chair) wrote that to Attorney General Spitzer in February.
Murphy's sources are generally pretty good but his slant is tainted by GATA's strong stance on the gold conspiracy.
An email colleague recently purchased silver bullion, but had to wait ages and was told supply was very tight.
If there is silver somewhere, it's not forthcoming, that's for sure.
In any case China is actively stockpiling a wide range of metals - I think they have bought out copper in most Asian warehouses now, and only the US has a supply that could see out this year (only on the basis of north American re-supply).
Commodity shortages are generally an "across the board" affair, so hard to see silver not running VERY strong before year's end.

greatdane

Member

Post Number: 70
Registered: 12-2002

Rating: N/A
Votes: 0


Wednesday, March 24, 2004 - 01:43 pm:

From Financial Insights
by Dr. Richard S. Appel
April 2004 edition

One issue that greatly impresses me is the effect of a
recent unified letter campaign to various government
officials. These letters outlined the abuses that have
allegedly influenced the free-trading silver market.

It is believed that a group of bullion banks, brokerage
firms, and commercial interests have acted for years
to suppress the price of silver.

Ted Butler, who has long championed silver, initiated
the campaign. He was responsible for the outpouring
of thousands of individual letters to important officials
such as Elliot Spitzer, New York's attorney general.

Mr. Butler's coaxing, along with that of the Gold
Anti-Trust Action Committee (www.GATA.org), was
instrumental in a flurry of letters that appear to have
forced the authorities to at minimum look into these
allegations.

It is amazing that shortly after the campaign was
initiated, silver appeared to become freed from the
shackles that had prevented its price appreciation
for a number of years. The timing was that precise.

If the allegations are true, which I believe is likely,
those who have worked to maintain silver at an
artificially low price will now be forced to stand aside
and allow the market to set its own course. They will
do this for fear of government sanctions against their
indefensible actions.

To me this is truly a great win for "the little guy,"
the man in the street, all of us! Further, it proves
that a number of people working together in search for
truth and justice can actually make a difference!

My hat is off to Ted Butler and GATA.

It is amazing how powerful the Internet can be if
utilized properly. In this instance the availability
of instantaneous communications allowed a vast number
of individuals from varying countries and different
walks of life to connect for a like-minded goal.

Regards, GreatDane

new2waix

Member

Post Number: 629
Registered: 10-2003

Rating: N/A
Votes: 0


Wednesday, March 24, 2004 - 02:37 pm:

An interesting article on the current commodity market....

Market Commentary
by Leonard Kaplan
http://www.safehaven.com/showarticle.cfm?id=1387

Quote (in relation to silver):

" It is clear that this market is totally dominated by speculative excess. This is not to say that I am bearish on silver, quite the opposite is true. In a market as thin as silver, the funds can, and will, take prices wherever they wish, and for now, that looks to be higher. We have not seen these price levels since Mr. Warren Buffet announced his purchase of 130 Million ounces in 1988......"

(Message edited by new2waix on March 24, 2004)

archer

Member

Post Number: 131
Registered: 11-2002

Rating: N/A
Votes: 0


Wednesday, March 24, 2004 - 03:36 pm:

MMN has been anticipating a silver rise since well before
GATA got involved or the letter writing campaign
http://forum.incrediblecharts.com/messages/8/46731.html
http://forum.incrediblecharts.com/messages/8/131068.html
They may have added a little to this rise but they are certainly not the reason
--
Mr. Warren Buffet announced his purchase of 130 Million ounces in 1998...not 1988
Regards
---Archer---