Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Silver related post ***

Hi ml,
I can recall a couple of occasions where you said that you consider yourself to be a relative neophyte w/r to the silver market, and if so, may I suggest that it may be time for you to 'bone up' on some AG plays because I think that silver could well be the first of the PM's to give us a slew of doubles from current levels. There are many established silver (w/Cu and/or Au) producers whose shareprices will explode when the PoS gets through the $5 area in convincing fashion. I feel that silver could break through that area of resistance before gold does the same with the $400 level.

My plan is to 'bulk up' my silver plays when the PoS breaches $4.75ish and to use an ensuing break of $465 on a closing basis to indicate that the time is not yet nigh.

To me, anything that might minimize the COMEX stranglehold on Silver pricing can only be viewed as a good thing to a silver bull.

Methinks this blurb could have far greater implications to the eventual PoS than the length of the PR would suggest.... <gg>

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China To Launch Spot Silver Trading In Shanghai July 8
Friday July 4, 4:32 am ET

Shanghai, July 4 (Dow Jones) - The Chinese government has decided to launch spot silver trading at the newly established Shanghai White Platinum and Silver Exchange July 8, according to a newsletter from the exchange.

Silver of 99.90%, 99.95% and 99.99% purity will be traded at the exchange.

The spokeswoman for the exchange told Dow Jones Newswires that slightly more than 60 members - including domestic silver producers, trading firms and jewelry makers - had been approved to participate in trading.

The trading hours are 0200-0330 GMT and 0530-0700 GMT Monday through Friday.

According to the trading rules, members will be allowed take immediate delivery or negotiate over a preferable delivery date, ranging from one to six months.

The silver exchange launched a pilot trading program in late April and obtained final approval from the State Economic and Trade Commission just recently, the spokeswoman said.

-China Bureau, Dow Jones Newswires; (86-21) 6218-3268; [e-mail]

http://biz.yahoo.com/djus/030704/0432000165_2.html