Was Anyone Here Smart Enough to SHORT SILVER this past week?

[bobbyw24]

or to buy puts on the Silver ETFs??

I wish I had.

But I did sell some Eagles so I could donate to the money bomb today

 

[swissaustrian]

Well, i did on Monday at $ 45,5. But only for hedging purposes. I still hold my physical. I´m a long term bull. The backwardation in futures did NOT disappear.
Prove here: http://www.ronpaulforums.com/showth...alling-knife&p=3246177&viewfull=1#post3246177

 

[brandon]

yep cowlesy did.

 

[bobbyw24]

Well, i did on Monday at $ 45,5. But only for hedging purposes. I still hold my physical. I´m a long term bull. The backwardation in futures did NOT disappear.
Prove here: http://www.ronpaulforums.com/showth...alling-knife&p=3246177&viewfull=1#post3246177

Smart move.

 

[swissaustrian]

Smart move.

But VERY nerve wracking. Hell, what a week! I have to constantly adjust stops.

 

[cubical]

There sure as heck are a lot of shorts on the trade now.

 

[nobody's_hero]

When Ron talks today it will go back up, lol. People will be like, "Osama is dead (maybe), but—oh yeah, we still have $14 trillion of debt, oops. What were we thinkin'?"

 

[Jordan]

There sure as heck are a lot of shorts on the trade now.

And it seems that no one is playing the markets themselves. Over the past two months, traders have fled to options, pushing up premiums just for the sole purpose of having downside/upside protection, depending on your viewpoint.

 

[bobbyw24]

When Ron talks today it will go back up, lol. People will be like, "Osama is dead (maybe), but—oh yeah, we still have $14 trillion of debt, oops. What were we thinkin'?"

That is why:

South Carolina’s debate will take place only days after President Obama announced that the U.S. had tracked down and killed Osama bin Laden. As a result, viewers can expect the debate to spend a significant amount of time on foreign policy issues, like unrest in the Middle East and the wars in Iraq and Afghanistan.

http://dailycaller.com/2011/05/05/r...first-debate-of-primary-season/#ixzz1LU1jDrwO

 

[Eric21ND]

So I have about $1000 to play with, what would you guys do with that cash? I mean besides donate for the money bomb, which I'm going to do in a minute here

 

[cubical]

So I have about $1000 to play with, what would you guys do with that cash? I mean besides donate for the money bomb, which I'm going to do in a minute here

two 1/4 oz Golden American Eagle, the rest to the money bomb.

 

[Seraphim]

Save on premium - get one 1/2 oz gold eagle

two 1/4 oz Golden American Eagle, the rest to the money bomb.

 

[swissaustrian]

So I have about $1000 to play with, what would you guys do with that cash? I mean besides donate for the money bomb, which I'm going to do in a minute here

I would´nt short silver anymore. It´s too late, even if we see another 5% drop. A technical reaction to the upside is overdue.
Buying some gold - as cubical suggested - might be a good choice.

 

[swissaustrian]

I´m probably going to dump (at least) 1/2 of my shorts today. I made 237 %, covered 87 % of the losses on my physical holdings. We may not have seen the ultimate bottom but i think it is near. Monday will be the last of a series of margin hikes. Physical tightness is still there, as one can see from the backwardation in futures: http://www.cmegroup.com/trading/metals/precious/silver.html

 

[Brown Sapper]

I got greedy and waited for 50/oz. Now I thinking about hanging myself with my underwear Anywho its not the end of the world, we will see another peak soon and this is just another opportunity to buy.