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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (10110)3/15/2004 12:13:30 AM
From: Umunhum  Read Replies (1) of 110194
 
Russ,

I am curious as to how you are playing the coming silver train wreck. I was a bit early to the party and started buying silver contracts about 18 months ago in the $4.90 range. So far I have taken delivery of 5 contracts and still have 5 more coming due in July. I have also bought a few thousand ounces in Engelhard 100 oz bars.

I was late to the party on the stock side. I subscribed to an investment newsletter that specializes in silver about 6 months ago. The only "blue chip" silver stocks that I like are PAAS and SSRI and both have had quite a run lately. In fact I am shocked at how quickly they have run. It seems like somebody with deep pockets knows something. I really don’t like the juniors. They seem like a hit or miss proposition and I would hate to be right about silver and then miss the run up because I bought speculative issues.

Jim seems to like CDU but I haven’t been able to pull the trigger on it.

Looking back, I wish that I would have put more money into the stocks as they have done significantly better. And with their leverage to silver (PAAS CEO says its about $6.6 stock price to $1 silver price in a recent presentation) that will probably continue.
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