For those many of you who view the bullion markets with skepticism or condescension, I have to say you are missing something, if only as a spectator sport.I can't begin to summarise the goings-on: suffice to say that all hell is breaking loose in silver, which is up 7% this week, and nearly 20% since the end of Jan. FWIIW, I am still long, but could envisage some profit-taking soon.
But that's not really the point - it's the backstory. If you are prepared to suspend disbelief for a quiet hour's reading, I direct you to this bravura blog, and a conspiratorial Yahoo thread.
If any of it is true, then something is set to blow. I did say "if" ...
ND
7 comments:
Knuew I shouldn't have closed that position the other week.
Damnnnnittt!
wv: tosings - believe it or not.
wv is persistently the drollest aspect of the interweb; I have lost count
Don't forget Jesse on silver too.
Don't sell too soon, Nick.
You ain't seen nuthin' yet.
http://traderdannorcini.blogspot.com/2011/02/what-is-commercial-signal-failure.html
Dips will b bought
http://dealbook.nytimes.com/2011/02/17/former-jpmorgan-executive-winters-starts-advisory-firm/?src=dlbksb
http://www.kitco.com/charts/s_leaserates.html
I think that there is a good chance that silver will pull back to the low 20s and maybe even below by this summer.
I've been long silver since below $10 and would't sell my physical yet as the future looks very promising for the metals but short term I am beginning to take all profits from my paper holdings.
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