Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Silver Super Bull who wrote (7566)	2/7/2003 12:27:38 PM
From: Eva	Read Replies (1) \| Respond to of 39344

From usagold: sector ( 2/7/03; 10:08:36MT - usagold.com msg#: 97032 ) The US economy stares into an abyss no matter which way it's cut. Greenspan is skydiving without a parachute, imagining that flapping his arms will soften the landing. The real issue here is when will the gold shares discover what is happening in the gold market? When will the fund managers realize that there isn’t going to be a pull-back and cut loose their money? They can be left at the dock. The price of gold will breach $630 by the end of the year because of the existence of a G-10 plan to put it there...on a freaking straight line. No derivatives explosion, no Washington Agreement spikes…just a relentless, merciless, unstoppable, gold-short-slaughtering, grind higher...to a price where non-central bank gold emerges to quell the decades-old hunger of world gold lovers. Throw a dart between $1,000 and $3,000 per ounce after Jan 2004. Watch the dollar [Major Currency Dollar Index, H.10 Fed Report] sink to 65 by 2004. It’s 95 today. Gold is not driven upwards by a few rich, fat Asians smoking expensive Cuban cigars, but by the ABSENCE of official sector selling which is the only meaning source of market selling today. They have capitulated. This is their way of retreating. Salvaging some of the wounded bullion banks with their hapless, mumbling CEOs and their fatally wounded, acolyte miners. They have bled enough central bank gold in this war.

To: Silver Super Bull who wrote (7566)	2/7/2003 12:36:20 PM
From: Louis V. Lambrecht	Respond to of 39344

DB - as far as I can remember (2 years or so, I have a bad memory, and only followed the PM for tose 2 years) maintenance margin for the gold contract has been $1000, even with gold @280. So, on one hand, if the Comex is expecting $420 (a 50% increase from $280) a rise of 50% of the margins can be acceptable. Margins on index futes change almost every month whith SPAN risk management. OTOH, thank you for pointing that out, many specs must be running for cover. Beyond this: CoT are based on Tue close figures, PR came out Wed, CoT will be released this afternoon. Kinda tricky trick that timing. Smelly, phoney,... anyway, shot a silver buy order below today's low. My paranoid mind tells me there is somethin' brewing.

To: Silver Super Bull who wrote (7566)	2/7/2003 1:23:54 PM
From: Bruce Robbins	Respond to of 39344

moneymentor.com Look at the margin requirements if you want to play with platinum or energy. Is that part of the conspiracy? I suppose if gold goes down now that GATA is going to sue the COMEX and NYMEX for manipulating the market and keeping the gold price down from the "REAL" price of $700...

To: Silver Super Bull who wrote (7566)	2/7/2003 3:02:38 PM
From: jrhana	Respond to of 39344

I think you might be right about some of the selling pressure being from small speculative longs, for now they are feeling the pressure. However in the long run the weeding out of weak, margin dependent longs will make the POG less vulnerable to short attacks. In addition and more importantly as the POG continues its inevitable march forward, the short interests will have to pay attention no matter how big they are as their margin calls grow. Now those margin calls on the shorts will be increasing at a more rapid rate. I do not see any evil here.