discussion point on silver and silver stocks, page-30

Yes MMN and CXC are only 2 ASX - PURE silver plays. In other words >50% of rev from Ag, both are >70%. Other ASX miners have 25% and less Ag in production or resources. BHP although biggest Ag miner get less than 1% of rev from Ag, so Ag price has little influence on their share price.

Why are neither doing well despite roaring Ag price? Simple. Large hedge fund shorting that will have to be covered at some stage.

Both ASX pure silver miners (CXC and MMN) today again, were sold down after the 4pm close for the lowest prices of the day.

MMN sold down virtually 10% some just before the close and more after, CXC also sold down after the close for lowest price of day.

There is a lot of chart painting going on, with hedge funds that are short, trying to paint charts of junior PM companies down to encourage the nervous to sell so that they can cover. Many are currently running a long PM majors and short PM juniors hedge, that will bite them soon.

CXC has about an 8% short position on the NYSE, which is many many times larger than most of the bigger HUI companies. Other juniors likewise have heavy short positions.

http://www.financialsense.com/metals/shorts.html

I'm looking forward to the unwinding.