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Yogi

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  1. I have a fairly chunky amount invested in Enervest. Have purchased in 3 stages over the last 15 months, at a good avg price not too far above where it's currently at. The yield is fantastic, and good scope for moderate capital appreciation in the short-med term. I am tempted to put a further big chunk of my STR fund into this or some other energy trusts, because most of it is still in a GPB savings a/c and with the direction of the £ and interest rates, obviously this is not proving lucrative. (Although while house prices are going in the right direction, my cash position is working overall, and with near-zero risk - perhaps best not to get too clever).
  2. I'm long Silver. Mid-to-long term trade. Willing it to go down so I can load up more at lower risk (which means it probably won't). I actually got in when it last plunged down to $11, but lost my nerve too early and took profits at $13-$14. Now back in from $14.50, and looking to try more of a "hold and accumulate on dips" approach, at least until we get the next major leg up to $20. What are everyones' thoughts on the worst-case downside? It sprang back so powerfully off $11 last time, and gold has come so much further since, that I'm thinking $12ish, but I wouldn't bet the farm on it.
  3. Everything getting whacked today - LAM down 9%... I'm watching like a hawk but not buying just yet!
  4. My thinking is pretty simplistic on this. I thought a decent mix would be a blue-chip miner, a smallish but fairly well established uranium-specific producer/explorer, and a direct play on the commodity price itself. I do intend to do some more research on UUU and some others, but for me it's just a case of lucky dip with this sort of investment, unless you have the time and inclination to do some serious in-depth research into the industry and individual miners. As I only want to invest a relatively small amount at this stage, I don't! I know this isn't a great approach, but time is the limiting factor. If there are any uranium experts out there who can give a concise guide on how to distinguish a good miner from an overvalued dog then please educate me, but I suspect it's not simple.
  5. Hi All, I completely missed the BIG move, but at least I didn't buy in at the top! Anyway, now seems like a pretty good time to take a position, accepting the possibility of further short term volatility (if gold and oil pull back to $730 / $75 ish then I could imagine uranium re-testing $75-$80. But for now it looks like things are on the up again and I don't want to get left behind. In light of Swervin' Mervyn's latest comments I've decided my £ cash holdings are too high so need to diversify and expand the non-cash portion of my STR fund a bit more. So... I'm looking to put together a mini portfolio of 3 or 4 stocks to hold for the med-long term, nothing ultra speculative, although I'm only looking at circa 2% of my net worth for this so happy with a bit of risk. Currently thinking of a mix of Cameco, Laramide, and Uranium Participation Corp. What do y'all think? I would consider putting a 4th more risky play in there if anyone has any ideas I can research?
  6. Interesting charts, Frizzers! With the £ nearly up to $2.01, silver spot is now down to only £6.12! That's the same as two pints of beer! What a bargain. I'm thinking of making my first physical purchase - currently favouring importing 100 1oz Maples from the US or Canada, as even after postage and VAT this still seems to be the cheapest way. Am I missing something? Is there any other import duty to pay other than the VAT? Is it also correct that NO silver bullion coins escape the dreaded VAT on import - I thought I had read that circulated legal tender coins were exempt, but I may have misunderstood.
  7. Thanks for the replies. In terms of the unallocated accounts, I'd consider these as and when I have more to spend (ie. STR fund) but for the moment I just fancy buying a steady 10 - 100 oz of physical every month. To a) average out the volatility and b ) enjoy the feelgood factor of shiny lumps of metal in my hands Regarding tax, things are getting clearer, but just to confirm... - Anything new (coins, bars, whatever) = VAT due, period. - "Second-hand" bought in UK = VAT due only on any dealer margin - Bullion bars (new or old) bought in from abroad = VAT due This is where I'm still not sure ... - "Second-hand coins" from abroad eg. Maples, junk (90%) old US coins etc ... ??? This latter category seems to be the best value (100+ "Any Year" Maples from thesilverxchange.com seem well priced, though shipping is rather steep). So, I would like to know whether I should (at least in theory!) be paying VAT on these, or whether I can back up the truck without worrying.
  8. Help on silver and tax please! I have read that "silver bullion" is liable for VAT in the UK, but "second hand / circulated" "coins" are not. Does anyone know any more detail about what constitutes "second-hand" and "coins". What about silver rounds? Does it make a difference if I buy from a private individual versus a wholesaler? What about if I buy from the USA (eBay)? Essentially, I'm trying to work out the cheapest way to buy small quantities of bullion bars / coins / rounds. US eBay is much cheaper, even with more expensive postage, but will I be stiffed with a huge VAT / import duty charge on everything / only certain types / or none? Sorry for the rambling questions! Any info appreciated - particularly if anyone else has bought from the US.
  9. (Repeated from monthly comments section...) I have just bought 500 unit of Enervest (EIT.UN - http://www.stockhouse.ca/comp_info.asp?sym...amp;table=list). All the income trusts are on a tear today - up 5%+. Gutted I missed the bottom earlier this week, but my TD Waterhouse account hadn't been fully set up... grrrr. Still, locking in a 14% yield will do me, and hopefully some growth as the current discount to NAV retracts, and oil resumes its relentless long-term march up. Nice little play on the Canadian $ whooping sterling as well. These income trusts are also on my list of "potential things to invest my as-yet-fictional STR fund into".
  10. I read this yesterday... http://www.financialsense.com/fsu/editoria.../2006/1105.html Looks like a fantastic opportunity. 10 - 15% yields available, and good potential for capital gains over the long term. Looks like they are already rebounding strongly from giveaway prices. Eg... http://www.stockhouse.com/comp_info.asp?sy...&table=list Done anyone have any experience of these, or thoughts about their potential? I'm aware of the currency risk, but imagine this could be favourable with the current strength of the pound. I have a few specific questions: 1) How to select the best trust(s) - presumably it's not as simple as "higher yield = best" ?! 2) How do I buy them? Selftrade.co.uk looks good for foreign stuff? I'm new to share trading. 3) What is the tax liability on dividend income from foreign equities? I'm thinking of snapping some of these up quick, instead of addiing some more of the Investec Global Energy fund to my ISA. Would appreciate any info on the above points... cheers
  11. I like silver too, despite getting creamed by the recent correction. I expected one - thought I'd average down to build a long term position - but hadn't banked on it falling 37% This is the downside of spreadbetting. I'll have made it all back and more by the time we're back up to $15 though. Well on the way already. I like the fact that the central banks / PPT can't dump it on to the market (although they can probably sponsor silly games in the paper market). I like the fact that the total size of the market is tiny. If a few big hedge funds decide to go in long and strong, they could pretty much run the price up to whatever they want I suspect. I watch the inventories quite closely - if they start to dwindle, I think it'll be a clear sign of a possible repeat of what we've seen with copper earlier this year and nickel at the moment. It could blast over $20 within weeks under the right circumstances. Ted Butler is very persuasive, although I suspect it's really just speculation rather than particularly valuable insight. At the moment my spreadbetting exposure is about 50/50 gold/silver. Silver currently outperforming gold and looks like it wants to go higher faster, but if the general market switches to bearish on the economy and stocks, gold could regain the initiative.
  12. Brent Crude futures have formed a beautiful parabolic rise this week - from $73 all the way to $78 !! The technical case for going short now must be pretty strong, but with "a bull market in death" (as the Daily Reckoning puts it) in full swing, I don't have the nerve... does anyone else?!! If oil stays around this level or above for the rest of the summer, can we safely assume that we'll not be seeing new highs in US stocks any time this year? I feel we're more likely to see a re-test of last October's lows, if not worse.
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