I am bearish on Silver and it will go down , but we could see 70 $ which will be a great opportunity for Silver bears , i would go with put options on a situation like this ...
Be prepared to pay through the nose then because nobody is going to sell those calls or puts without making sure the buyer pays A LOT of premium, and a lot of premium means a lot can waste away...........
================ Probably right , since this countertrend move, by definition, is ''shorter'' Most of that 7.77% plus move got gapped. Dealers/market makers- traders may do fine, in any market.Oh by the way, speaking of patterns repeating , but not exactly. Consumers have complained to congressman/women abou t high prices/ long positions in oil, long positions in wheat. Corn, dont know about that one, gov ethanol meddling partly caused corn Uptrends, as certainly as gov restrictions helped cause oil & unleaded to uptrend . Let see , if Arabia were to dump thier gold & Citibank shares because of weak unleaded gas /oil /Citibank buy volume; long term silver & gold uptrend is most likely to still uptrend. $60 is the right long term trend direction; short term maybe polar bear/panda bear trend. Not a prediction, simply possibilities.