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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: The Lone Ranger who wrote (808)3/8/1998 6:21:00 PM
From: David Luton  Read Replies (3) of 1348
 
On a serious note for a minute
the declines that hit UKH were far from unique.
I got hammered Friday in another silver stock I own,
Clifton (CFB-Alb) by a decline of 14%.

This silver market is very volatile. Claude Cormier said it
best in his newsletter, (I trust if he won't object if I
post a sentence. "The silver market has been so volatile
lately that many of of the futures traders have been taking
pills."

The fundamentals are still good: (Look at broader market
events since the merger deal was announced in early December.)

- The asian econcomy hasn't collapsed yet so silver is still
being used in industrial uses. Thus since the deal
was announced another 3 months of silver deficit have
been used up.

- Mr. Buffet has announced his purchase and taken delivery
of his silver. (I still hold to my assumption of
him leasing some of it back to avoid the short squeeze
we all hoped for.)

- The price of silver has been above the $6.00 range for
the last 3 months, but at a price level low enough to
discourage Indian recycling.

- The silver supply crunch will be real but it may take
a while. It's like death by strangulation. The shorts
will still die but it will take a while.

See my other posts about being patient.

- In the interim have you given any thought to the
accessories for your new steed in the right front
seat. (I assume you are male, and I apologize to
the ladies in advance).

You know the ones will long blonde hair that tend to
hang around (soon to be) wealthy men.

Personally I was fortunate enough to find one 20
years ago and I hope it stays that way.

Dave.
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