Re: Watching the overseas silver price
in response to
by
posted on
Jun 26, 2013 08:25PM
(Edit this Message from the "Fast Facts" Section)
Hey sphin -
Buy those silver coins all the way down. The bottom in silver has yet to be seen but there may not be all that strong a correlation between the coins and the spot. So just cost average down.
I have a theory about whats going on at SFMI, BTW. You know me.... always have a theory, LOL
I figure that the reason everything has been at a grinding halt (pun intended) is that the lawsuit just 8K-ed had to have been accompanied by some kind of court ordered restraining order. What the court could not allow was for assets to "evaporate" during the suit, so I'm betting that Earll's lawyers filed and obtained some kind of order that kept the work product Earll had put into the site from getting completed by another contractor. Hence, the progress that had been in the works (we all saw the photos of half finished construction... cinder blocks & rebar and a carved out site in the side of a hill, for starters). Earll was sueing to get paid and he could logically be presumed to have taken the position that the work he had done, but not been paid for, needed to be kept from being completed by any other contrctor. After all, he was making a claim on it and he had to be aiming high, so the court would naturally hold value in place pending its ruling.
I'm betting, now that I've had a look at the 8K, that the court issued an order that effectively held the assets in stasis until it ruled, which it has done.
And I also guess that there is news coming soon and that the board voted the Quilliams out of the BOD... exactly like what just happened to Mens Warehouse. Of course, the Quilliams still own the bulk of the Class B shares but I'm betting they are not any longer going to be in the decision making seats.
I'm guessing that any money deal, if there really is one, involves players who took the stance that the Q's had to be dethroned from decision making power.
As to the power inside of today's move. the volume today was about 9.5 million, which definately out powers the 7.8 million from 3/15/13. And also. check 04/12/12 when it had 8.1 million. I'm of the opinion that the low of the 4/12/12 volume day will be resistance, but if there is real news like I just speculated about, or a short squeeze, it may be a tissue paper wall.
Price today powered off the bottom with more volume that in many moons. I haven't gone all the way back. It may be the biggest volume day to the upside ever. I'll check that later, but the volume after 11:30 AM Central today was a powerhouse on the upside and it powered up without interruption thru the close.
I wish I knew what the skinny is but its darn clear that somebody thinks there is a good thing about to happen. Maybe its just a rumor stirred up to get the price up so the insiders can dump their shares. My opinion is that the loss of the lawsuit is a blow the BOD is mad about. Thats my guess. My guess is that the boardroom is about to be revitalized and that it was a required step or the money players that we've all heard rumors of would never actually put their money into the game.
Anyway, it was a big volume day and it was muscular move, bigtime. Pleases me a lot.
Hope all is well with you. sphin. And you too, magnus man. :o)
Imperial Whazoo