ETF

[barry_1]

(just using this site to keep all plat goings together)i was sent a news letter yesterday to say the Swiss are going ahead with their plat ETF(exchange traded fund).The major companies are supposed to be against it as they say it will cause the market to become more volatile and put the plat price beyond some of their consumers pockets.Perhaps they are just going through the motions to satisfy their customers.The fund will be launched on 10 May.

[barry_1]

Now i've known for many years that major users in both Japan and the US buy their plat. direct from the producers ,some even have forward contracts so as to even out the price.So i dont think the influence will be that great.It has been said that they are aiming to buy 70,000 ounces,at best it will mop up the surplas which would have come into being by year end.In the short term it might cause a price spike,but i think this has been discounted by the market already.Probably only half the the plats is thaded on metal markets.

[Russ]

Are you in JBL,Barry? Do you think it's a good buy?

[barry_1]

I do hold at the moment,only reason of course is that all new plat mining stock prices rises on the back of a plat boom.Any company that now gets a listing is going to do well and i've noticed new companies good,bad or indifferent goes up faster near start up time.How ever they are still a an exploration company as is WEZ which i hold as well,but will definitely sell both by April end at latest.(let some one else make the profits for the next couple of months!)ELAND i intend holding till a buy out occurs and ARQ is worth holding for a couple of years.Always only my opinion.I also have an installment on IMP which i'll hold up to their Final results.

[Russ]

Thanks.

[barry_1]

Interesting articles tonight on moneyweb.co.za on how reasonably priced is ELD etc.Also comment on WEZ, these articles are a must read.

[john_1]

Hi Barry working late! please post the links thanks mate!

[john_1]

Found it not to worry

[barry_1]

Hi John,Have now sold WEZ at good profit and am buying Anooraq(ARQ) instead,also buying no other share as the market will usually turn nasty soon,i'll consider nibbeling again from July onwards,but only go on a buying spree after Oct.This has worked well in the past.Money market is the place for me now!

[john_1]

Thats why smart money makes money! I will be looking into the arq thing more during the day but it does look good!