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Re: SILVER....--Another point of view



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> From: Tom Stein <comfut@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: SILVER....--Another point of view
> Date: Saturday, February 07, 1998 8:52 AM
> 
> Just to put 1,000,000 oz of silver into perspective........
> 
> If Mr. Buffett wants to dance in and out of the silver market........
> 
> He could very easily short 200 contracts against his physical at anytime
to
> lock in the profits and just deliver the silver to whomever is holding
the
> contracts when they expire......200 contracts represents
> 1,000,000 oz, but is nothing in a market that can trade 10,000 to 20,000
> contracts per day.  Mr. Buffett shorting 200 contracts wouldn't even
cause a
> blip in the price unless he took out a press release just before
> execution....................
> 
> Tom Stein  comfut@xxxxxxx
> 
> 
> 


Ah, let's see now.

1,000,000 oz X $6/oz = $6,000,000.

Last I heard, Buffet had about $1 Gigabuck invested in the white shiny
metal.

Now.  How many contracts would that be?  Gee, I wonder if it would take
more than a day to short the futures.


Yankee Trader in Texas