by Travis Johnson, Stock Gumshoe | July 20, 2009 2:01 pm
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Ha! Give it a few minutes after I buy shares and write a note like this, and Paramount jumps in with a stronger bid for Klondex. Paramount Gold and Silver was teased as a Stansberry pick a few months back, now they’re outbidding a stock that I think is a current S&A pick. It’s at least an endorsement of Silvercorp’s offer, since Paramount management seems to have a great reputation — the shares are bumping up a bit, either from attention or, perhaps, because folks now don’t worry about them buying something that won’t pay off for a while.
My stick floats with yours Travis….I like SilverCorp. I’m hanging onto it and a few others….
Took some profits to cash yesterday…I desperately needed to rebalance.
USD rally?; Gold and Silver rally? “Quien Sabe!” Either way we’ll be made to look stupid by
years end, I’m thinking….
I’d say be real careful from here on out to years end….I do feel a pullback coming.
I think a strong dollar rally (A short squeeze? ‘ Not sure)….Gold is maybe showing
an $850 support level….If $1000 is a resistance level, it’s not punching through with any authority.
Unfortunately we’ve a bunch of investment and hedgefund managers already going back to their old ways.
Combine a 3 second attention span, with the common sense of a duck; And we may be starting this dance all over again….And we still haven’t gotten the chance to lead.
Just a comment about metals and minerals in general, I think the industrial universe demands source specific metals and minerals as the basis of their industry. Gold, I believe, is not an industrial metal for the most part, vastly much of it goes into jewelery and although we see more going into industry – not that much; further, of all metals gold probably has the highest rate of recycling than any other. Silver has a much higher rate of industrial use. I think we need to realize there exists a much higher degree of use of other metals for manufacruting requirements, ie, copper, zinc, molybdynum, cobalt, the list goes on. It is just that many of these compuonde are spun off fron the purification of other metals. On the mineral side, we have potassium (potash), as well as a host of other minerals of industrial and agriculture use. Many of these are just “steady eddy” companies, thereas others have shown spectacular rises in recent years and continue in their need regardless of recent market trends. Thest should be part of any properly diversified portfolio.
best of luck or should I say best of all due diligence.
but then i came across this today…..it asks
Is Silver’s Decline Just Starting?
http://www.commoditysilver.com/Free-Report/