A possible way to slow the shorts
posted on
Oct 18, 2010 04:54PM
(Edit this Message from the "Fast Facts" Section)
I just got a SFMI stock certificate for all my shares in our joint account at Fidelity . I did it primarilly to secure us in case of a HUGE crash , and or a Bank Holiday or a Broker Holiday as it appears the world is in a currency crises and I expect the US $ may have to be devalued or replaced with a new and different one backed at least in part by GOLD .This way I can jump in the car and be off to Canada with stock certificates for SFMI and a number of other Canadian oil companies in my pocket and hang out until the Banks & Brokers re-open and law and order are restored in the states.
Previously I had over 700,000 shares of SFMI transferred from our traditional IRAs to ROTH IRAs . Now is a good time to do a partial ROTH transfer of just SFMI shares as the tax is based on the price at the close on the day you transfer it and I expect the price to zoom to $3.00 to $10.00 within a year when a buy out or good tonnage and ore grades are announced and the tax on much higher prices would be huge . Thus I pay a much smaller tax 4/15/11 or over 3 years and in due time will sell SFMI for huge TAX FREE gains . The ROTH rules are complex so study up at www.rothretirement.com .
The added bonus is that the BASHERS can't borrow my shares to short SFMI that are in my possesion or in our ROTHs .The fact that they are currently very active and many in number is encouraging to me as it indicates that whoever is paying them to Bash and supress the price is very worried that he won't be able to buy SFMI cheap or that word of his negotiations will leak out. LINDY