Silver going parabolic?

holy crap. i'm long and nervous as hell. i keep moving up stops to allow for potential massive slippage on a cratering. can this continue?

 

Yes it can. But I think downside favors the odds at this point.

 

Silver is going so much higher. We are still deep in backwardation territory. Selling now is leaving alot of money on the table. Shorting is suicide.

 

For the long run, you're likely spot on. For a daytrade, maybe I am.

 

I took profits on some SLV calls today, and rolled partially into SLV 45 July 2011 calls .... seems like not a bad deal at 31 cents. I feel better with most of the money off the table, but still have a longshot trade.

 

With what is happening in silver, it doesnt sound like that big of a longshot to me.

 

Check out silver today. With the middle east going up in smoke everyone is running for cover.....once upon a time it was UST now its gold and silver.

 

still long, moving up my stop loss as it goes. no idea when this rodeo ends, but it'll be ugly.

 

When I hear staff at work saying they have lost faith in USD and are buying physical gold and silver for a form of financial insurance then you know the game is up for USD.

The FEDs QE actions are only helping people lose faith in USD.

There is a real risk of a sudden run on the dollar to anything else but USD.

 

on the contrary, when i hear staff at work jumping on the train then i get even more worried. the last thing i want to hear is my taxi cab driver telling me he's long silver.