Today we purchased the JAN09 Call options at a strike price of $10.00 for $1.00 per contract for the Hecla Mining Company. As we can see from the chart the stock appears to be oversold having been sold down from the $13.00 level to close at $8.28 today (read more…)

As you are aware our strategy on the way up was to take some profits off the table as various precious metals stocks became overbought. By adopting this strategy we have managed to lock in some profits and also to generate some ‘opportunity cash’, which we can now deploy at cheaper entry prices (read more…)

Having missed out recently in our attempt to purchase call options on Kinross Gold Corporation we managed to bag a few today. We bought the JAN09 series at a strike price of $20.00 for an average of $2.68.

This trade will be funded from the ‘opportunity cash’ that forms part of our trading account. Kinross we believe is undervalued at the moment and as we can see from the chart the stock price is now below the 200dma and the technical indicators suggest that this stock is now oversold.(Read more)

Silver: A readers view

From time to time we like to publish the work of others in order to bring you a different perspective on the silver market. Today one of our readers has submitted an article for your perusal, enjoy (read more…)

We normally deal with the buying and selling of gold and silver mining producers, as that’s where we have placed the lion’s share of our funds. However we do receive requests about what we own in terms of the physical bullion and where we store it (read more…)

Some of our readers are stockholders of Apex Silver Mines Limited and have written expressing their concern about this stocks performance. Firstly, we must point out that we are not financial advisors; we represent a small group of investors in the United Kingdom and also invest our own funds in the precious metals markets. However we will throw our humble opinion into the ring in an attempt to answer our reader’s requests (read more…)

Bradford Cooke, Chairman and CEO of Endeavour Silver Corporation is suing Canaccord for not following their instructions to buy bonds and instead purchased $5 million dollars worth of Asset Backed Commercial paper (ABCP) (read more…)

Hecla Mining Company has been a good vehicle for us in terms of generating profits through short-term trades. We now see this silver producer as being oversold and have therefore decided to buy today at an average price of $9.61.

Having come off a high of $13.03 this stock has dropped back to close at $9.53 as of Friday 23rd May 2008 (read more…)

The merry month of May has almost gone but not without tossing us a surprise rally which commenced on the 1st of May and put on $75/oz before hitting the brakes yesterday when it fell back to close at $906.15/oz.

The old adage of sell in May and go away appeared to reverse for most of the month. Maybe they went early this year as gold dropped a $100/oz in the second half of April (read more…)

In an attempt to add balance to the debate surrounding silver we are posting this article for your perusal and consideration. We are not saying that we agree with it entirely however it is thought provoking and raises some interesting questions.

The article is entitled ‘Silver Price Manipulation’ and was sent to us this morning by the author and well known silver guru David Morgan.

Silver Price Manipulation (read more…)