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Interesting read:
Butler: A Long Time Coming
It has been almost eight months since I’ve been able to write about a dealer short-covering clean out in silver. It seemed like it took forever. No matter how long it has taken, the good news to the blasting to the downside we have just witnessed is that the dealers (including Mr. Big) have used the sell-off as an opportunity to buy back a large number of their shorts. Actually, it’s a little more involved than that; the dealers created the sell-off by collusively pulling their bids on the decline. (If you’re not clear on that, please read some of my previous articles.)
Now the question becomes, is it done? Have we reached a low risk buy point? I think so, but with the tremendous volatility I can’t say it’s only dimes to the downside, the way I could at 4 or 5 or 6 dollar mark (although it may be). But I can say that there are many, many dollars to the upside, courtesy of a host of reasons not contemplated a few years ago, including the growing potential awareness of the real silver story and the prospective ETF.
I also get the feeling, whether we have seen the bottom of this silver sell-off or not, that the dealers will be very reluctant to sell the next rally, when it comes, which I think is soon. This should free the price dramatically. I say this because I think the dealers have been taught a lesson they will not soon forget. Most of you know that the lessons you have learned in life the hard way, through adversity, are those that are most obeyed. The dealers, likewise, have suffered heavy losses as a result of the 8 month silver rally and are, in fact, covering at substantial loss for the very first time in decades. I think they are more concerned with closing out their shorts and eliminating continued exposure to the upside, than they are with the losses they have booked. I think they will be reluctant to put their heads back into the lion’s mouth by going short again.
MORE: http://news.silverseek.com/TedButler/1145998584.php
It's alot more fun watching this go up then down and to those that sold you're short sighted or have no balls.
Bring the Green
2create & Chart. - I dig the new chart
Hello
Is anyone still here?
Agreed. Squeeeeeeeeeeeeeeeeeeeeeeeeze em tight!!!
Run Forrest Run!!!!!!!!!!!!!!!!
Common-Cents Great Post!!
I vote for you to win the post of the day. Your moniker is fitting.
DAMN!!!
Gotta love it!!!!!!
Not painting the tape. MMs are trying to get people to sell by raising the price. There are no more shares and everyone is holding. Sounds goofy but I think the MMs are scrambling here. HAHAHAHAHAHAHAHAHA!!!!!!
Where can I pick up that manual?
Seems like alot more fun than mine.
100 = need shares
I could be happy with 10.00, I guess.
Patience is always tough but give this company some time to develop.
Been in since earlier Feb and will stick around until we get a fair price for this gem.
If the financials suck then bail, but i doubt they will.
bought 855 shares to see if would go as a sell or buy
Hola Z-man
I've been in long before that. Just been patiently riding the pine boys
OT - Count me in COHQ
Where's Zamori? Whatever stock he's bashin I'm buyin!!
Don't post much but just had to b/c I just stumbled across this board this week and can't believe how cool this is.
Thanks for the tunes
Could have a good day tomorrow in VRDI