This silver stock’s soaring today!
Published via e-mail broadcast on November 9, 2009
In today’s TFN eNews:
* Silver’s up again
* Beggar thy neighbor
* The drop hight has just been elevated
Dear TFN eNews reader,
Silver futures for December delivery rose 32 cents, or 1.8%, to $17.695 an ounce. Earlier, the price reached $17.78, a two-week high.
Silver Wheaton Corp. (NYSE:SLW) announced today that it would hold its Q3 results conference call tomorrow, November 10, 2009 at 11 AM. Share prices went up over 5%, to a 52-week high of $14.92!
(Wonder what kind of results they’re announcing…)
This was an especially welcome sign after the past two weeks: You were able to buy the stock at $11.93 as late as October 28! Hot Stock Confidential members who used thepast month to scoop up shares at lower levels are sitting on short-term gains of up to 25%, just in the past two weeks.
Our official gain on this stock is now around 52% over our initial entry price. And even though there may be some small sell-off after any results announcement, I intend to hold on to it for a while.
(HSC’s other remaining sterling silver play was clocking in at 11% gains since Oct. 15. Here, too, the October market dip created an excellent opportunity to buy on the cheap. For more information, look no further than here: http://www.todaysfinancialnews.com/HSC/ridic/WHSCK904.html)
*** Commodities kept on climbing as the dollar kept on slipping. This will not change any time soon: Congress and the White House are pursuing an agenda that is fundamentally opposed to a rising dollar: A combination of “beggar thyself” and “beggar thy neighbor”.
Despite the emission of concerned noises about budget deficits, the Administration’s rosiest projections translate into enormous inflationary pressure, which currently is held in check only by the deflationary powers of the global economy and the currency peg between the Chinese yuan and the U.S. dollar.
The lower the dollar, the cheaper and more competitive become Chinese imports to countries with stronger currencies. In turn, this feathers Beijing’s nest, allowing the Chinese to stimulate domestic consumption and resource hoarding.
Meanwhile, the fundamental sources of support for many commodities shave been pushed far above what can be supported by fundamentals alone, with speculation and capital flows now in firm control of pricing.
So far, this bubble has been working out well, especially for gold, precious metals, and commodities investing.
But there is the ever-present danger, that an extraneous event could trigger another crisis. For years, my chips have been on a popping of the Chinese debt bubble to trigger a mega-crash. In my book Hot Trading Secrets (written in 2005), I predicted this collapse for the summer of 2009.
Obviously, I was wrong… but not necessarily off-target: For the last year, Beijing has been given out loans to a degree that would make subprime mortgage brokers look like Calvinist clerics!
The drop height for China has been multiplied over that of 2005!
***Clandestine signal sets stage for triple resource opportunity:
Lock in 256%, 678% even 1,894% gains as a secret hedge fund swings for the fences… and misses! The markets have got it all wrong and I will prove it. Read on…
http://www.todaysfinancialnews.com/TST/GAS/ETSTKA03.html
*** Quote of the Day:
“The projected cumulative deficit for the next 10 years is now $9 trillion, having just been revised upwards by $2 trillion. Perhaps it is because these sums are incomprehensible that Americans are no longer shocked by them: but someone will have to pay. There is no sign of the budget going into the black in any of the next 10 years: the projection for 2019 is still that it will be 4 per cent of gross domestic product (it is between 11 and 12 per cent now). The health care plans, were they to be enacted, would make this dire situation even worse. They can be funded only by higher taxes, which is no doubt fair if everyone wants such a system, but far from everyone does. And, as I have written in relation to our benighted economy, the growth that might ease the problem will only be depressed by higher taxes.”
– Simon Heffer, Telegraph.co.uk
Recommended Reading:
Life is a highway, a Chinese highway
Natural Gas Prices: “Stealth Buyer” tips his hand
Today’s Top 3 Financial News Stories:
Breitbart.com – Gold price hits record high as dollar wanes “Gold prices hit a record above 1,100 dollars on Monday with the dollar weakening after a pledge by G20 countries to keep economic recovery pumped up with easy money. In morning trading here, gold struck an all-time peak of 1,109.50 dollars an ounce as the euro rose to 1.50 dollars for the first time in two weeks.”
MoneyNews.com — Prechter: 2008 Crash Just A Warm-Up “Elliott Wave analyst Robert Prechter says the rally is over and predicts the start of ‘another wave of the bear market,’ similar to the one investors experienced in 2008. ‘I don’t think we’ve hit the V bottom yet,’ Prechter told CNBC.”
Bloomberg.com — U.S. Joblessness May Reach 13 Percent, Rosenberg Says “The U.S. unemployment rate may rise to a post-World War II high of 13 percent in the aftermath of the recession, said David Rosenberg, chief economist at Gluskin Sheff & Associates Inc. in Toronto.”
Cordially yours,
J. Christoph Amberger
Executive Publisher, TodaysFinancialNews.com
Next Article: 342% gains from natural gas implosion
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