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Gold/Mining/Energy : Silver prices

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To: jim watson who started this subject	1/31/2001 8:39:27 PM
From: MICHAEL HOCKING	of 8010

I believe the recent upward activity in the silver market is due to some short covering from one firm covering about 15,000 contracts. Bill Murphy said on his site that someone bought 5000 525 march Calls a few months ago. He told me last week the same buyer was now buying the july 525 calls in quanity. I believe the reason the person was covering the 15,000 contracts was they new the call buyer would be asking for delivery of all of it. I do not think that much silver is lying around in the 5-7 dollar range for March delivery. Some is buying up alot of 6.00-6.50 calls july as well. A squeeze coming? Just my speculation.

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