I bought silver as it "crashed' a month or so ago, and then sold recently. I was expecting that Silver would tank when QE2 finished. So far it hasn't. Then I looked at the slaughter on the stock market and expected people to pull money out of commodities to pay off margin calls. Wrong again! So what is going on with silver? Was there actually little of the QE money supporting silver? I'm not completely out of the silver loop. I still have 201 puts on ZSL (ultra short silver) for Jan 2012. But I would love for it to dip so I could buy into physical at Bullionvault. If wishes were fishes we would all cast nets..
Shorting zsl looks like a winner. http://finance.yahoo.com/q/bc?s=ZSL+Basic+Chart&t=5y Just 2 years ago it was $1100 per share(adjusted for reverse splits) Now its $12.
Yep, my puts are up today. They are basically my insurance on potentially losing out on a silver run at bullionvault, where I have uninvested cash. Any idea what will happen if zsl drops really low, like 1 or 2? Will they reverse split or can they approximate, but not touch, zero? Still wondering why silver didn't really tank when QE2 let up. Perhaps there really wasn't that much of the bank's cash invested in silver. Just JP Morgan et al shorting it ;-)
=========== Pl-T; well for sure it daily candle closed over $40 & $40.44 That suprised me also, not the uptrend going upgain [LOL], but the uptrend going up so soon. Silver did do well in 1987, not as much wreck as tek in 2000+/; at least for traders, IBD investors. Not a future [or futures] prediction; simply wise probabilities................................................. Some buy monthly, like a fund putting money to work; but frankly ,its lower uptrend volume.