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I never talk about shorting silver and Friday I felt it but couldn't pull the trigger.silver hit $42.22. There is no other position to have now but a short. Sell any strength if you're lucky to get strength. Double long etf's and slw could open down 24% tomorrow.This will wipe some margin players out.
I bought ZSL last week and was sweating for a while, but now I'm looking forward to tomorrow.
Good call.I'm sitting here feeling pretty sad for some silver retail investors tomorrow. Many brokerage accounts allow leverage up to 3 times on the margin account, and more.I believe many inexperienced retail investors would have plowed everything into silver and with 3 times leverage, i think the math works out that a 33% loss wipes them completely out.I'm currently projecting silver to fall to $39 , and that amounts to 37% down on slw or a double etf. This could happen tomorrow based on this $6 dollar fall tonight.It is a vicious game we play.