This pricing is for paper silver only. I've been looking around today to see if anything even close to these prices could be had and haven't found squat.
Intuitively, one would seem to know that paper silver would be of a lower value than the real stuff. I'm just hoping that the JPMs of the world, those with those huge short position in AG will realize that they cannot get completely out from under, bite the bullet and ride the elevator with the rest of us back up to where silver belongs.
Remember the infamous Blythe Masters interview where she said this?
"If you see only the hedges and our activity in the futures market but you aren't aware of the underlying client position that we're hedging, then it would suggest inaccurately that we're running a large directional position," she added. "In fact that's not the case at all. We have offsetting positions. We have no stake in whether prices rise or decline."
I actually do find her statements half believable. The "offsetting positions" is probably pretty truthful, IMO. The "on behalf of our clients" part: not so much. So they make money on price movement, whether it be up OR down. I know that a lot of people watch the net commerial short position #s , but for a while I've been looking more at the small spec positions since I started wondering WWJ(PM)D? What Would JPMorgan Do? As such I see a possibility of low $27.xx in the short term with a bit of sideways movement to follow before we break to new nominal highs. Looking to add a few shares within the next week or two.