Silver about to rocket?

Discussion in 'Economics' started by morganist, Oct 15, 2012.

  1. Yes, Silver is going up, but it might be a month or two. How do I know? Because I've been holding my silver since $15 per oz and I'm about to sell at least half my holdings in silver to buy real estate in the next 30-60 days. So the day I sell my silver, the very next day it will rocket up at least $20 per oz.
  2. Yeah but I bet you made a lot on it regardless.
  3. Yeah, I did pretty good on it. Average price I paid around $15 per oz in 2009. I sold about 30% of it at $38-$39 per oz last year, so I guess if you factor that in, my dollar cost average is about $4.88 per oz. Meaning as long as silver doesnt go below that, I'm still in the green! haha.
  4. I always think silver is undervalued compared to gold, but I have to wonder about this JP Morgan short position. It seems like I've heard of this for a long, long time and it seems like it would have blown up in their face already. Can anyone really prove JP Morgan actually has a large short position in silver (and by large, it seem like it would have to be super large to really threaten JP Morgan)?

    Also, it is believable that a large investment bank would really open a huge short position in a precious metal and never bother covering it or managing it in any way?