yep, oldest trick around esp. in thin NASDAQ stocks and of course the snobbish world of futures... but I digress.............
it appears that some of the hedged producers are showing some strain.... like ABX, NEM and the like... well off their highs despite gold 600 talk....
Though I am more convinced on the longer price performance of silver, I think that the price will continue rising until $12 mark, BUT, whether it is a safe probability suggestion or not, I would say not, as a major short could be triggered any time now, like we have seen before so many times. I am also convinced that this will be the last time this major organised shorting will be ignored by the SEC. One can only assume that this action is backed by the US government (I should be whispering at this stage ), otherwise why is this still being allowed to happen. I think, if Barclays are dead serious about the ETF and it's not just a short term play for them, I expect this issue will be raised some time during the appeal, if ETF is not to be given a go ahead.
Seriously. Can this continue to just straight line without any correction? I took profits here. Again, I'm used to FOREX, so a move like this usually is something to take and run on. But I don't know about futures - is this normal?
Take a look at daily charts from a few years back -- silver can drop in whole dollar increments in the space of a few days (I suppose it could go up just as fast). Nice exit -- I don't think you'll regret getting out here.
You don't have to go back that far. Seems like we saw a big move (~-20% in 2 days, if I remember) around the $6 level some months ago. Somebody got a spot chart? I was short around 10.33 for a couple days and felt like I was just waiting to get broke, so I covered for a small win. It hasn't looked back for $1.15 The panic seems to be increasing daily. The day "they" (the sloppy, scared ones) finally finish buying, the drop will be breathtaking. Too bad I have no idea when that will be
i actually know when it will break. i'm not telling anyone, though. that's why i'm a multi-hundredaire many, many times over...oh, if ye only had the riches i do.
Riiiiight. Incidently, I apologize if I ask stupid questions. I have no idea what I'm doing yet with futures. Forex is my backyard, but this...I feel so small