Friday 18 February 2011

Silver Goes Berserk

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:

Steven_L said...

Knuew I shouldn't have closed that position the other week.

Damnnnnittt!

wv: tosings - believe it or not.

Nick Drew said...

wv is persistently the drollest aspect of the interweb; I have lost count

James Higham said...

Don't forget Jesse on silver too.

Anonymous said...

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

Anonymous said...

http://dealbook.nytimes.com/2011/02/17/former-jpmorgan-executive-winters-starts-advisory-firm/?src=dlbksb

Anonymous said...

http://www.kitco.com/charts/s_leaserates.html

WTF Finance said...

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.