re: buffett, soros - ah, wrong name I'd agree with you Phillw except for the Iranian wildcard and the near term possibilty of a physical squeeze in silver and short squeeze in the futures market
The Iranians have the west by the short and curlies. Check out the background of the President, he was in charged of sending thousands of Iranian kids into battle where they were mown down. Don't doubt that he has 40,000 suicide bombers ready to go.
That guy will stop at nothing. he will try to destroy the west by jacking up the oil price. The USA will most likely bomb and ...well the rest will be history! Gold silver oil and gas are the only things to own right now. they are insurance!
My latest RonRosen gann/Delta analysis points to oil spiking to over $130 a barrel this year. He also calls for a month of consolidation in precious metals then another buy signal late May/early June.His system buys on the breakout signal so doesn't mean prices are going much lower in between
MMN might go to low 30's, hope it does so I can pick up some more oppies, but I only sold lightly into this rally, bull markets don't let you back in that easily, they reward those who stay long and ride out the corrections.
I sold some LHG call warrants Thursday planning to go short on Friday . LHG took a brief dive then powered right back up again. This bull market is very strong, you'd be nuts to cash out to much. Stay long, or only sell to buy another goldie. I ain't ever going to try and short a gold stock in the next couple of years.
MMN very lacklustre right now, needs a couple of 6 million turnover days to get it past 45c safely.
MMN also rally's before silver does. Who can explain that?. Did it both in 2004 and late 2005. I guess it means next time it starts to rally start buying silver futures a month later!
As for the physical silver market, dealers in India are reporting businessmen cashing in Indian equities and buying 100's kilos of physical silver at a time.
Canadian bullion dealers also reporting significant increase in silver bullion buying
And the ETF hasn't even started. Man this silver bull is going to be huge when it really gets going
China probably moving from net exporter of silver to net importer this year.
I expect MMN to sell its first silver at over AUS$30 an ounce. With cash cost of say $10 you can mine silver grade of 20g tonne
Expect some significant reserve upgrades!
MMN
macmin silver ltd
