Breaking News as it develops here:
(a very important week ahead)
This is going to be ONE POST here with a LARGE LOAD OF INFORMATION and you may want to check back later for other additions and updates:
The News UNIT COMMENT:
I just visited with a local coin dealer in my area and they are selling 2011 MINT AMERICAN EAGLES at $41.30 per coin right now. They are not having any trouble getting them at the moment because people are cashing in. Any older dated AMERICAN EAGLES they buy they re-sell them at $39.25 per coin. Right now silver is changing hands and the buyers and sellers are out in full force. So I conclude it is a very busy market. It may be these ETF's are just going to kind of hang sideways now after this recent market correction dampens out. Just give them time because I don't think they are set up to react to such wild market swings. Then everyone jumps in and concludes thay are all scams. Well they sure have some large interest in them for being scams. I think most people are not calling them scams and usually when you try to get shaken out of something that is the place to be. Same goes for the recent silver shakeout.
This is likely to be one of those sectors in precious metals where people will look back and say "I should have".
Now having said that, I think there is still downside in this GOLD and SILVER market. There is also COMMODITY WIDE MANIPULATION which includes CRUDE OIL and other COMMODITIES.
So it is probably a good time to wait. I heard John Embry say recently "You can be thankful you don't have silver". Now isn't that an interesting comment coming from the Sprott Management people? I don't think he meant it entirely as if to stay out of silver; and I would not call those gentlemen scams at all but it is simply a time to sit back and wait for further lowering in the price and then weigh the current economic situation and possibly buy into some silver.
CHECK THE LATEST King World News Weekly Metals Wrap:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/5/14_KWN_Weekly_Metals_Wrap_files/KWN%20Weekly%20Metals%20Wrap%205%3A14%3A2011.mp3
Concerning ETF's: The Weekly Telegram put out some of his opinion on ETF's but I don't particularly ascribe to the fear of ETF's. I think there's just as much risk with ETF's as there is with EQUITIES. You have to just do your homework and don't think these guys are not in and out of these ETF's as they see fit. They are just upset and then they bash the latest ETF where they were on the wrong side of a trade. So here's a couple of videos on ETF's being scams and you can make your own decision. But you have to admit after all the SLV bashing began back in late 2010 the SLV gave investors a healthy return:
So then if you don't want to be in ETF's then don't do it. Simple! I would have to say that if these guys above made good trades in ETF's these videos would not exist. Also ProShares responds to recent questions and if you don't like the ETF's then go somewhere else:
http://blogs.barrons.com/focusonfunds/2011/05/13/proshares-responds-to-levered-silver-etfs-surprising-performances/?mod=yahoobarrons
...developing...
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