An ominous chart for the Silver Bulls.
The original post is here. Now I’m agnostic on the value of a pattern repeating. However, without a QE3 the inflation story in Silver may well be dead and buried.
June 28, 2011
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- June 28, 2011 at 7:26 am
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ducati998
%d
June 29, 2011 at 6:04 pm
… yup… eating crow here…. still have the last round of call options bought last month…. pondering some sort of action this week…
June 29, 2011 at 8:19 pm
guido,
A trade is a trade. Some work, some don’t. That’s all there is to it.
jog on
duc
June 30, 2011 at 5:50 pm
‘Ominous’, maybe…or another opportunity is about to present itself. That’s comex spot, right? I reco’ you do the same thing over the same time period, but compare inventories as opposed to price.
Regards
July 10, 2011 at 6:50 pm
… went long call options on SIL last week… weekly silver chart still looking constructive to me… though still holding my original call options, not adding on SLV here due to chatter about credibility/viability of the fund so decided on SIL instead … have half a mind to go exceptionally long a handful of gold miners stocks for the long haul….
July 11, 2011 at 8:04 am
guido,
Interesting for me, not for you so much, that silver is not responding to the European crisis in the same manner as Gold. I would imagine this is due to Gold, contrary to Bank claims, that they still view Gold as de facto money.
It seems, once the shock is over, although it’s been out there for a while, that the inflation trade will reassert itself.
jog on
duc
July 11, 2011 at 8:21 am
guido,
See the ratio post.
I’m not so sure that Silver as against Gold is such a good trade currently. I do understand that you are looking more to the producers currently.
jog on
duc