There's never a dull moment in the silver market. Recently we discussed the merits of investing in physical, rather than paper commodities, and my personal preference for physical is neatly underscored by the current rash of conspiracy theories concerning a perceived black hole in vaults where big deposits of the shiny stuff should be.Google any combination of silver, conspiracy, backwardation and JP Morgan, and enjoy the show ! Strongly reminiscent of the more lurid aspects of Enron: larger-than-life businesswomen, rumours of huge out-of-the-money positions, anonymous sources detailing nefarious trading plots - it's all there.
My own recent position is in the money - just - but the bid-offer has widened as things start to go a bit haywire, which is no time to do anything except watch. If the more colourful reports are even part-way true, a battle royal is raging out there, with scope for all manner of mischief and mishap.
ND
4 comments:
Yes, but have you popped along to your vault and taken a peep? Just to be comfy you know...
I've looked in my drawer - and my four silver dollars are still there :)
"If the more colourful reports are even part-way true, a battle royal is raging out there, with scope for all manner of mischief and mishap."
X 1000.
WV = vendwar LOL!
Had a little flutter on silver earlier in the week, from 29.19 to 30.11.
Won back the couple of hundred bucks I lost shorting gold last week!
yup, no shortage of, err, volatility!
can be good, can be bad
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