Silver: The Smart Money Gets Bearish

You forgot to mention that someone sold the options.

This is hilarious... I been in silver since single digits ($6-8).... and the media is STILL advising people to NOT buy silver... hahahahahahaha!
The talking heads on CNBC have been calling silver a bubble since $20

When the media finally gets bullish on silver, THEN and ONLY THEN it will be time to sell

"Plenty of smart money [read: the cool kids] is betting on the commodity rally ending."
Really? Goldman, et al, have a problem. It's true that they are the gorilla and I am just an ant. But there are a lot of us ants. A LOT. We bought silver back in the dark days of $8 silver because finally realized just how screwed the economy was. We don't believe in this "recovery" because we can clearly see that nothing has changed since 2006. Obama = Bush III. I'm up 5x in 3 years on silver, but wouldn't even think about converting that into fiat currency until real change happens. And change will come, but it's probably gonna be very unpleasant. Sorry for the long article -- entitle mine "Silver - The Seriously Smart Money Gets Very Long".

1st, It's kind of amazing the coverage that this $1M bet is getting.. if I made that bet I would be selling selling selling those 100,000 contracts, I haven't seen the volume but no doubt the buyer is already unloading his position. It's almost as if the media is trying to get us to sell...

2nd, You just can't take this article seriously for 2 reasons. 1) "[read: the cool kids]" 2) "In the past two years silver is up from a 12-handle to new all-time highs over $40 oz." Anyone who knows how to use google can find out that the highest closing price for silver was $49.45 and it occurred on Jan 18, 1980.

All a simple function of everyone unloading dollars, too many in the system, stocka metals and commodities are the short safe bet for earning during the volatility. Self feeding. Kapan selling dollars to get yen, Saudi Arabia and OPEC selling dollars to insure they don't lose their sudden windfall from this bonus $110 oil, everyone selling treasuries, and of course China selling dollars to diversify more quickly as their foreign reserves dollar number skyrockets from the collapsing dollar exchange value. Of course metals will continue to do good. As will stocks and all commodities. Self propelling.

Commodities will keep going up. Sure, some people will take profits, but the trend will continue to march upwards when only lip service is paid towards resolving budget issues and the labor market continues to wan. I expect silver to quadruple as long as Congress continues to drive the U.S. economy's short bus off a cliff. Good clip, keep up the good work.

What a joke this article is! The bankers are naked short 7 Billion ounces of silver. It would take them 5 years to cover even if no one else bid. The Comex will default. JP Morgan will go bankrupt, and SLV will implode because it has no real silver.

Buy physical silver! Eat a banker!

or - SLV can collapse because it has no real silver while the actual POS keeps going up... maybe this is what this trader has inside knowledge of.

I don't know if silver will go up or down, but who would trust Goldman Sachs? I typically use them as a contra-indicator.
And to call them "cool kids?" Thanks, but no thanks, I don't need any advise from the "cool kids."

Fool me (and my heritage) once, shame on you. Fool me (and my heritage) twice, shame on me (us).

Scare tactics and mouse clicks are the tools of the trade for market makers and manipulators. ���Run, run, run... Sell, sell, sell... Short, short, short...��� and lastly, ���Bail, bail, bail me out, please...��� says the seriously squeezed and TOO-BIG-TO-FAIL bullion banks sitting on NAKED SHORTS.

Don't get mad, get even. Read between the lines and PROFIT!... Buy and demand physical gold & silver. Nothing will boost your wealth better than squeezing BIG GOVERNMENT and CENTRAL BANKS where it counts, in their shorts!

Meanwhile, rest assured��� (i) fundamentals remain the same and will not change anytime soon, (ii) industrial demand and new uses for silver continues to increase, (iii) money presses continue operating 24/7, (iv) [Fill-in-the-blank with whatever], and (v) demand for physical Gold and Silver is soaring by smart wealth.

The talking heads don't think beyond their weekly TV ratings. So listen to them at your peril. 99% of these morons missed the real estate bubble, and now they are all on the bandwagon ready to "call the next bubble", silver, gold, commodities, etc.
but few are calling the collapse of the dollar. These folks are pathetic, they pretend they give us such great insight, like "we will perhaps see a correction".
They don't even have the guts to leave out the "perhaps". Ha, they should get a real job, all of them!

You hit the nail on the head Cautious! Neither Gold nor silver will change it's upward trend without real change in our governments spending. This is the only way to show the rest of the world that we are serious about getting our financial house in order. China is pulling back from buying our Treasuries, and even offloading small amounts under the radar, which is forcing our government to purchase them! Lets face it... Fiscal responsibility is really only a dream as we just saw with the most recent budget deal. No politician, Democrat or Republican, is going to step up and make the kind of cuts that really need to be made without being labeled a middle class job killer. With no "Real" cuts to speak of in the most recent budget, and an almost guaranteed increase in the debt ceiling coming, do we really think people are going to gain faith in the paper currency that we are overprinting? I say buy plenty of Treasuries now so you won't run out of toilet paper tomorrow! Don't get me wrong here... This is still the GREATEST nation in the world! We just have to have the right leaders in place to make the tough decisions that will get us back on track.

i sold some put options today too only it didnt make national news

"A sharp pullback" - Oh, I see, a sharp pullback means we should follow the cool kids and sell. Thank you so much GS for providing your expensive guidance to all us peasants. It's like getting investment advise from George Soros when he speaks publicly, it's all calculated to generate a certain response from the masses.
Most of us have been investing for years and are well acquianted with pullbacks, be they sharp or not so sharp. Pullbacks are a necessary part of the markets at work.

$40 all time high? Didn't the Hunt brothers get it near $50 in the Eighties?

We are raising our debt limit, the dollar going lower ( presses all ahead full) and silver and gold will continue upward. Might be a small correction but the direction is to the moon.

Who is the smarter Kevin Bass or Jeff Macke? Sorry Jeff have you read the Saturday papers and the University of Texas thing and the $1 billion dollar purchase of gold. This $1 billion dollars better be smart money.

"The stock market is dragging along commodities"?!?!?? Are you kidding me! Mathematics say otherwise. Printing more money is the cause of both going up.

Theredfoliot, sorry it took a couple minutes but this tells where the silver is kept:
Barclays Global Investors International, Inc.is the sponsor of the trust, The Bank of New York is the trustee of the trust, and JPMorgan Chase Bank N.A.,London branch, is the custodian of the trust.
The iShares are backed by silver, identified on the custodian���s books in allocated and unallocated
accounts on behalf of the trust and held by the custodian in England and other locations that may be
authorized in the future.

At $11, I nervously held on and watched it 'correct' to $9.

At $19, I nervously held on and watched it 'correct' to $15.

At $32, I held out for the 20% correction I "knew" was coming. Ooops...

Meanwhile, (i) there is no sign that fundamentals have changed or will change anytime soon, (ii) new uses and industrial demand for silver continues to increase, (iii) money presses continue operating 24/7 to prop up collapsing fiat currencies, (iv) [Fill-in-the-blank with whatever], and (v) demand for and deliver of physical Gold and Silver continues to soar by persons wishing to preserve their wealth.

Still, scare tactics and mouse clicks are putty in the hands of market makers. Run, run, run... Short, short, short... Sell, sell, sell... Bail, bail, bail... says the seriously squeezed bullion banks and TOO-BIG-TO-FAIL banks sitting on NAKED SHORTS.

Fool me once, shame on you. Fool me twice, shame on me.

Friends and neighbors, don't get mad, get even... Thank and profit from BIG GOVERNMENT and CENTRAL BANKS. Demand and take delivery of physical gold & silver. Nothing will boost the value of your investment better than squeezing them where it counts, in their shorts!