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SIL up over 9% but USGIF up 0.77%? Glad I got out a long time ago, too (low $2s). Tried to warn, but not many listeners. What's happening to this company & its stock is criminal. No other silver stock w. this production, performed This Badly over the past 2 years! Many better silver stocks out there, besides getting stuck in this one (AG is best).
Why get in now? There's sharks swimming in the water here. Knowing Sprott will make money no matter what, and knowing the track record of current management, there's no way I'm getting in the water here. These sharks would eat up my money, just like they've been chewing up investors all this time. Why would they have a change of heart & do the right things for investors now? It's been the same all along, they will not change. Do what you like, I tried to warn everyone when I got out in the 2.20s. But these people will not change. They are sharks & they would eat my money until I'm bled dry. I will not get in any water that has sharks!
Eric Sprott is shady. Before he got his hands in US Silver, the stock price was acting even better than its peers. I saw price move from .25 to .60 pretty fast. So I bought US Silver pre-split at .52 & saw it run up to .90 in a few months. Then Sprott got his grubby hands on it. The stock performance was NEVER the same since. Chart will show a cascade down, with lower highs & lower lows. From .90 cents pre-split to .799 today post-split, that's over an 82% drop! I bought & sold 3 times & sold for good in the $2.20s. But it's amazing how a stock can perform so well, then Sprott comes in & there's an 82% drop since then! I don't trust that guy & never will.
Yes, that's what I've been trying to say! Agree 100% BullionNation, on all counts. This new combined company has competent leaders & better resources & production, and is more interesting than just USSIF.
What a coincidence that Sprott is a big shareholder in both these companies! I find it very hard to believe that a man of Sprott's expertise in PM markets, would ride both companies them all the way down (USSIF down over 70% w. Sprott), for no reason. Now all of a sudden he puts the 2 together...what a coincidence! Interesting. Got out of USSIF in the mid-$2.20s-mid $2.30s. But the people in charge of the new company look like they have excellent experience. Most are from Barrick & Kinross. If I were still in USSIF, the new company w. the new people actually looks better to me. But I still don't trust Sprott. I won't touch anything of his.
That's what I've mentioned several times now. I was in USSIF before Sprott came & the stock was acting like a normal silver stock, doing great! Since Sprott came, there's been nothing but a cascade of lower highs & lower lows, when most silver stocks performed significantly better. It's down much more than most silver stocks. Same story since Sprott came to BRD. BRD made really good significant changes, yet the stock has performed worse than ever. I won't touch anything of Sprott's.
The price action for USSIF was Perfect & Great, before Sprott got involved. Management has disappointed & under-delivered and needs to change, but Sprott may also be part of the problem. It looks like the stock price has been played with, since the time he's been around. Coincidence?
That chart for price of silver does indeed look bullish. But comparing 1-yr charts of USSIF, SLV & SIL: USSIF dropped -20% more than SIL (silver stock ETF) & -30% more than SLV (price of silver ETF). Everyone is right that USSIF is far undervalued for the resources & production it has. And that it makes no sense for its share price to be so low.
I picked the 1-yr chart, because that's the timeframe Sprott became more heavily involved. Bought USSIF twice. Sold the first time, due to cascading lower highs & lower lows, despite the undervaluation. Then I bought it back when the Co President left & USSIF did the reverse split. Thinking, "Ok. The company did the r/s like they said, & a new President will do things to help turn the share price around." But when I saw it was more of the same, I sold again above $2.20.
Like you, I don't understand why the share price of USSIF is not higher for the production & resources it has. And I agree with everyone it Should be higher. Yet it keeps doing more of the same, even during times when other silver stocks move up. The only thing that makes sense to me, is that the stock is being played. Also, cost of production at $17.75 per ounce (or higher by now) is way too high, when most silver stocks average $5-$8 per ounce. I'm staying clear of it until it performs like it's supposed to, or at least keeping pace w. other silver stocks.
FYI on ScottTrade. MUX investors having a nightmare converting MCEEF, MNEAF, and even from MAC.Q shares to MUX. It's on the MUX msg board @Yahoo.Finance. Something's not right with ScottTrade. I have Fidelity & never had a problem.
Ditto On Fidelity Investments since 1986. Fidelity responds to questions quickly & changes to stocks are timely. Fidelity's service & Intl service is great! Huge selection of ETFs, mutual funds, & never any problem w. penny stocks. They're $7.95 on most trades. Some Blackrock ETFs are free.
Yet after all this good news & the R/S, US Silver is far underperforming in share price again. I hope this is not going to be the same old story--Great news, great stats, bad stock performance. I'll only take so much of this.
Haha! Not a POS today, & hopefully not anymore! USS sounds good.
Been analyzing silver stocks for almost 2 years & picked US Silver as my first silver stock re-buy. Most have better charts, but now that the CEO is gone & the reverse-split took place, US Silver gets a clean slate. MONTHS of DD went into this. Scorpio & Fortuna both have great companies. So do EXK & AG, but they have less far to run than USSID. Scorpio will grow into a monster, with all the resources & upcoming growth they have. USSID was my first pick, Scorpio will be my 2nd after a silver pullback. Wanting to own more than 1 silver stock, has nothing to do w. lack of confidence in the one I already own. It has to do w. the confidence in the other companies I also want to own. Great Prosperity To Everyone Here!
Yes River, Glad I bought back in. Missed Scorpio Mining today, though. Had my finger on the trigger to buy back in Scorpio Friday, but chickened out. Thought 2 silver miners before the next drop would over-extend me on the way down. I picked USSID, so it needs to keep doing good! After the next drop, I will most likely own 3-4 silver miners in 2 accounts.
POS is short for "Price Of Silver". When I first got on message boards, thought "POS" meant "piece of ____", until I figured it out!
USSID produced over 50% more than GPL 2011, and is projected to surpass that % over GPL in 2012. US Silver will pass GPL in share price soon. USSID backed off its high today, but still passed my "buy" price of .49. It's nice to have a gain in this stock for a change! Hope the POS will stay high enough to keep USSID over $2 for the next 20 days!
USSIF's closing price Friday was $.48, so I looked for an opening price around $2.40 or more today. The $2.30 was an instant opening loss of over -4%. Its fight back is encouraging, though. Day's not over, so expecting a close $2.40 or better unless POS tanks. I think Sprott will make every effort to keep this above $2, so the AMEX Listing can happen.
The ticker symbol change would explain why USSIF is showing a 100% loss in my account. Chatted w. Fidelity & they said it would be updated tomorrow. A little unnerving to see 100% loss there, but I trust that tomorrow or Monday morning USSID will show up w. a higher share price & 80% less shares.
Bought a tranch @.49 today, expecting buys near end of day. Finishes at .48. That figures. If USSIF drops below $2 before I make any money in this, I'll get out & never be tempted again.
I still track USSIF, because it's the cheapest producer of over 2M Oz that I ever saw. BUT I sold awhile back, because there's something very wrong w. this price action. With all the silver & all the production US Silver has, there's no way the stock should be performing like it's been. Hate to say it, but USSIF performed MUCH better & performed the right way BEFORE Sprott got involved. After he got involved, the stock has WAY too much negative divergence & the price has been cut in half. I don't know what's going on, but I know the price action isn't right & hasn't been right ever since Sprott got his hands in it. Coincidence? I don't know, but I'll continue to track USSIF until the stock price is doing what it's supposed to do.
Thanks, DeeDog. Ben will have no choice but to get his helicopter going again later. Only question is, how ugly & how low does it get before then. How do you mark? Didn't see any tabs titled "mark".
Interesting, USSilverbug. I was not tracking US Silver at that time. But I'm putting in a stop-loss. If it hits, I'll use the funds to buy a more reliable stock w. more reliable management. This is one of the worst charts I've ever seen. Below 40 cents, USSIF doesn't even qualify for the reverse split. It's headed in a place where I don't want to be, faster every week.
USSIF dropped from $1.20 to 5 cents in 2008. Any reasons why it can't or won't do that again? I own USSIF & did not expect that kind of drop again when I bought it. But it's headed in that direction. I know what USSIF has, but in an environment with such political uncertainty & manipulation of silver price, why couldn't USSIF go there again? This drop is only from 80 cents, not $1.20.
R/S & AMEX is the only reason I'm also hanging on to USSIF. If that does not move this stock, I will get out & never look back.
Thank You Silverbug & Dr. Bill. And remember, "the Lord has pleasure in the prosperity of His servants!" I join Dr. Bill & Silverbug in wishing everyone a blessed Christmas season.
I named the non-retirement part of my portfolio "The Abundant Life Hedge Fund". 10% of all profits go to "Love Haiti's Children", an orphanage that our church runs in Haiti. Most kids in Haiti don't even have underwear or shoes. While our poor people have TVs, running water & electricity, & cell phones! But USSIF is the 3rd biggest holding in the Fund. So it needs to do well! If US Silver does not get bought out, I'm looking for at least a 5-fold. And if silver & gold stocks run like 1975-1980, then I have no idea how many-fold it could go.
Thanks USSilverbug, & Thanks for your contributions to this board! Maybe we can make back the money that people ripped us off of, in USSIF in 2012. Happy Thanksgiving To Everyone!
Re: Canuckman Post #10767. Enjoyed reading everyone's stories! So much better to be human, instead of just words on a page.
I'm all of 5'2". But played tackle football w. the guys until almost 16, & played on a summer basketball team that won a championship. Also retired as an Army Lieutenant Colonel. Never dawned on me that I wasn't supposed to be able to do those things.
Survived an attempted kidnapping in 3rd grade, a life-threatening parasite disease, collapsed lungs after an immunization, 2 totaled-car accidents, and a truck bomb that Special Ops found outside my building before it went off, etc. Wouldn't be alive if it weren't for God!
Lost too much money trying to invest "conventionally" in 2000-2002 & 2008-2009. So recently learned how to trade. USSIF is testing my patience. So many times it's in the red, when its peers are up well. But I've never seen anything this productive, this cheap. USSIF has to either be bought out, or explode up after the coming downdraft. Hoping USSIF will help get the money back that I lost, trying to invest the way financial advisors told me to! Keep the stories coming. They're all very interesting!
I agree that big price increase in silver would burst USSIF thru the trendlines. Mentioned in post that "it would take a strong rally in silver" to "turn the price action around". And it would also take "investors pouring in" (regardless of reason), to "turn the price action around". I hope after the next silver drop, USSIF does have the strength to reach & hold .75-.80 or above. It just hasn't yet & it's been a long wait. There's enough reasons to hold USSIF, but won't spend any more money on it until it moves the way its peers usually do.
Anybody else notice this on USSIF's price action? USSIF is my biggest holding. Also filled my last tranch at .445 during last drop. But the price action bothers me. If you look at the chart, there's 3 descending double-tops. 1st one at .81, 2nd one at .72, and the 3rd one at .60. Technically, that's bad. Only reason I'm hanging onto USSIF now, is because I believe it will be bought out. With price action like this, it's not strong enough to gain up to $1 or even .75 on its own unless investors start pouring in. Hope USSIF will be an exception to the chart & the price action gets turned around. But that would be unusual, & would take a strong rally in silver & investors pouring in.
Agree, Nebula. Better to split before the 20-day AMEX waiting period @.70 or .80, than .60s or less. Too many negative things can happen in this geoeconomic & political environment, to push the price back down below the required $2, while waiting 20+ days after R/S for the AMEX. Might as well wait until the uptrend following the next downdraft, when markets are more stable, so the stock has less chance of falling below $2 in the 20 days before the AMEX listing. I know they promised, but waiting under these conditions doesn't bother me. Unless the delay results in someone buying USSIF out from under us.
Meant to say "for the AMEX", not "on the AMEX". I know plenty of companies go under $2 after they're on the AMEX. My point was, after the R/S, USSIF has to stay above $2 for a certain consecutive number of days. (Think Dr. Bill said it's 20 consecutive days). 5-for-1 at 60 cents would normally work during this time of year. But with all the geoeconomic stuff going on, maybe $3 would not be high enough during another silver drop. Silver has dropped 35% in 20 days more than once before.
Whether they announce the R/S at .60 on Monday, or a higher price later, I'm excited about the R/S & AMEX Listing. With the normal seasonal pattern we'll see the AMEX before end of year. But if there's unexpected events that result in an unexpected silver price drop, it may take a little longer.
Can't help but wonder if they're delaying the reverse split, because the share price is not high enough yet? If they split at .60, the after-split $3 is good most of the time. But if there's another hit in silver prices, that would drop the price under $3. I know this is normally the season for a runup in PM prices. But there's a lot of unpredictable geoeconomic stuff out there right now. I'd feel a lot better if they split at .70 or .80. Then the chances of staying above $2 on the AMEX is a lot better.
USSIF is my 2nd biggest holding in 2 accounts. Bought most shares between .44 & .52. Shareholder since Feb 2011, & not going away anytime soon. But I'm not upset about the split not taking place yet. Monday will be an interesting day.
Very nice! USSIF has a history of gaining P&P Reserves every year, above & beyond their production. Sure glad I added @ 44-45 cents! Can't wait to see where this stock will be 1 & 2 years from now.
Thanks & Happy to be here. USSIF on Yahoo turned into too much trash. In USSIF since 52 cents last Feb. Hard to believe we're below that now, but there's too much production & good changes coming soon to bail out now. Anything under 50 cents is unbelievable!
Bot 2 tranches @ 44-45 cents today. Might drop to .30s worst-case, but fully loaded now. Ready for the R/S.