Wow... Sil down about 28% as I post... CDE down 11% HL down 3% All on bolivian oil fields nationalization panic. And spot silver at 14.20 Gotta love it!
Rapidly declining prices on HUGE volumes... yet the underlying commodity they track is intact or actually higher.... and the gold/silver indexes were holding up. Big time divergences.... you could actually sense people panicing and unloading shares whatever the cost. Was a perfect time to use leverage on the long side, call options perhaps.
nothing wrong with heading for the door when you smell smoke. have you taken a position or is everything you said smoke and mirrors
Yea, I toook an options position around noontime, literally cents on the dollar. Given the divergences, risk/reward was at its highest. Worst case is i'm wrong and then try to close out near breakeven on a natural bounceback.