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O.K. ! Maybe Buffet is smarter than the Hunt Brothers...but not J.R.
Ewing ! As a Texan I draw the line there.
-----Original Message-----
From: TRaffertu@xxxxxxx <TRaffertu@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, February 06, 1998 10:33 PM
Subject: Re: SILVER....
>In a message dated 98-02-06 20:46:44 EST, Bando57@xxxxxxx writes:
>
><< i would not be surprised at all to see a rounded curve on this
> chart as Mr. B unloads.....this could be a classic case of the big boys
using
> the small specs as nothing more than front line troops to be
> massacred......for those going into this market i caution extreme
> caution....sure it could go to ten bucks or beyond but i think gravity at
>some
> point is going to weigh in and weigh in hard and fast on the price of this
> white metal...] >>
>
> Hi Rick,
>
> I could not agree more. It is possible for someone to
>manipulate silver but never corner the market, just ask the Hunt brothers.
I
>remember when they tried, when the price of silver rose enough every piece
of
>scrap in the world poured into the market. I remember passing a coin shop
>that also bought metals, there where people lined up around the block, maby
>500 people, selling everything from silver coins to flatware to Grandpa's
>teeth! This went on all over the country for weeks. Eventually this huge
>influx of new supply drove the price down, and broke the Hunt's cartell.
>
> Buffet knows this... he is from Omaha and is much smarter
than
>the Hunt brothers from Texas ever where. The news that he was buying
wasn't
>leaked, it was poured out. I would bet he is already quietly selling.
Rember
>he is taking delivery on the silver, not trading futures, and the cost of
>storage, insurance, ect. will kill him on any long term trade.
>
> The only way to trade on this now is from the short side. As
>you said the price may move up some more from momentum but it can not hold
for
>long.
>
> Good luck and good trading,
> Ray Raffurty
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