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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Pete who wrote (751)	2/19/1998 9:09:00 AM
From: Harry K	Respond to of 8010

It was overbought - currently correcting in the opposite direction - should be "back to normal" end of Feb. early March ... H.K.

To: Pete who wrote (751)	2/19/1998 9:21:00 AM
From: CuriousGeorge	Respond to of 8010

<Jim Dines has the best girls at his booth> There are three basic strategies used to attract people to a booth: 1) booth babes 2) magic 3) raffles The best approach, however, is a combination of all three - Create the illusion that you are raffling off the booth babes. Hoping silver dips below $6.00 to accum mass quantities. Cheers

To: Pete who wrote (751)	2/19/1998 11:49:00 AM
From: philv	Read Replies (2) \| Respond to of 8010

Pete: Here is someone's explanation re: Silver drop. kitcomm.com I think what he is saying is that there is some profit taking going on. However, the stocks @ Comex are still being drawn down daily to new lows, and Buffett still has to take possession of a large amount of Silver next month. There has also been a change in rules at the LBMA regarding settlement time which took the urgency out of Silver. I think the fundamentals are as good as ever. Phil

To: Pete who wrote (751)	2/19/1998 6:57:00 PM
From: Jim Ilchyshn	Read Replies (1) \| Respond to of 8010

Pete, My opinion is that the shorts are trying to scare the price down. I bought another call yesterday for December. Also I believe that the traders think the price is high considering the last 10 year historical range. Truth is that prices are probably cheaper than ever due to derivative trading over the last several years. Here is an excerpt from a newsletter that I receive (from Wall Street Underground)... As you will see in a moment, this is the very beginning stage of a rally that will propel silver first to $10, and then $20 and ounce. As the rally continues, silver will reach the $50 level Bunker Hunt drove it to, when he cornered silver in 1980. Sounds impossible? Not really. It's happened before and it's happening again. In 1980, Bunker Hunt -- a Texas millionaire -- cornered the silver market. He rode silver from $2 an ounce to $50 an ounce. Now it's happening right before your very eyes. Silver is being cornered again. This time there is a critical difference. The modern-day Bunker Hunt is a far wealthier man, by the name of Warren Buffett. Buffett is the world's 2nd richest man, and the most savvy investor who ever lived. Starting with nothing, he personally has made over $25 billion trading the markets. Last year Buffett announced the stock market was too high. He started shopping around for his next deal to make billions. He chose silver. Here is why. Buffett's team took counsel from the foremost traders of out time -- men who had made vast millions trading silver. Buffett knew the Bunker Hunt story. He knew how incredibly successful Hunt was at cornering the silver market, and driving prices to unheard-of highs. Here is the inside story of what's happening and why! Demand for silver keeps climbing. Inventories are low and production even lower. And prices are at bargain basement levels. Silver is one of the world's most unique metals. There is no known substitute for the metal. Its properties are truly unique, and vital to a host of industrial applications. Buffett's group got keen analysis from key traders in the silver market, who explained Hunt's mistake. They showed Buffett how easy it would be to again corner the silver market, with relatively little money. Buffett is in silver for the long haul. Bottom line, he saw that silver was already seeing a supply and demand imbalance. Far more silver is consumed every year than mined. Buffett already owns more silver than Hunt did -- at one-fourth the price -- and his buying has just started. The average price Hunt paid for his silver was a sky-high $25 an ounce. On the other hand, Buffett's average price is an incredibly low $5.50 an ounce! Actually, Buffett is picking up silver for even less. In constant dollar terms, silver is selling for its lowest price EVER! By the time Hunt was done buying in 1980, he controlled 100 million ounces on credit. Buffett has just started buying, and he already owns more. 130 million ounces of silver, which he has paid for with cash. That makes him bullet-proof. No one can stop him. And supply and demand all say silver will go higher. A lot higher. When Hunt cornered silver, he only had $20 million cash to put up. He had to borrow more than a billion dollars to corner the market. He hocked everything he owned, including the gold Rolex on his wrist. Buffett has $20 billion to put into this investment. He can buy and sell Bunker Hunt with the change in his right pocket -- and still have enough money to buy all the gold watches ever made. Buffett hasn't borrowed a dime. He won't need to. Using less than 2% of his available cash, he has driven silver prices up 50% in a few months. He has enough cash sitting in his account to buy ALL the world's silver. That would only take 10% of his available cash reserves. Buffett has done this many times before. In market after market, he perceived value when no one else did. You are seeing another Warren Buffett/Berkshire Hathaway multi-billion-dollar, money-making investment. The world's 2nd richest man already controls 20% of the world's silver market. He owns far more silver than Hunt ever did. As we speak, he is buying more. And the price is just starting to climb. In the past, outside investors have made fortunes closely following Buffett's every move. They are now starting to jump into silver. Their buying, coupled with Buffett's heavy accumulation, will drive silver to over $10 an ounce by spring: and over $20 an ounce by the fourth of July. But the money you are seeing now is not the end of the silver profits. Just the opposite. It's the beginning. Gold and silver funds are about to come in the market in a big way. Industrial users have low inventories. Soon they have to buy again and again to meet their needs. They have no choice. Silver will go to over $50 an ounce. This will happen by the end of the year.

To: Pete who wrote (751)	2/19/1998 7:54:00 PM
From: bobby beara	Respond to of 8010

Pete, IMO the last big buying opportunity in silver was yesterday and this morning. Anything that shoots up in a spike like that is due to naturally sell-off, but given the critical supply / demand, the wide variety of commercial uses for silver, the minimum mining capacity, and the endorsement by a lengendary investor Warren Buffett, it's going up, up and away from here. IMO, Warren B. let the cat out of the bag, however the rest of the world will be so slow to catch on, and when they do, we'll sell em our silver at the peak -g-. I went shopping for 60's half dollars, and it brought back memories of my childhood. Actually the value of real dollars started going downhill after 1964 (in 1965 they went from the 1964 90% silver to a 40% silver clad) and has been declining ever since. In those days people could afford to live on one income and homeownership was much more affordable to the average person. There was an interesting link on GPM to an article about countrys who sold all their Gold and how their fiat currency has been devalued. I think the real evidence is there in our own currencies devaluation starting in 1965, when they started cheating on the silver, then in 71 going off the gold standard. The mirage is we've been importing deflation from global producers that pay the workers in pennies an hour. Something that won't last for ever - it's somewhat of a form of slavery. Indonesia may be just the begining of the ramifications of this. regards, bobby