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North American Energy Partners Inc. Message Board

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  • chemaes44 chemaes44 Sep 2, 2011 9:22 AM Flag

    Hump Day Debrief - 8/31

    Hey guys & girls,

    I'm around, just been real busy with family vacation stuff. I do come by and read the board from time to time to see what folks are thinking.

    Right now I'm long silver through SLW and a double etf, was long some coking coal until yesterday where I lightened up, and I'm long TLT feeling the FED can only really influence the back end of the curve. TLT looks like it's in a consolidation formation ready for breakout or head and shouldering. It seems those who argued at the last fed meeting for more engagement are supported by today's jobs number So, QE3 should come back in and support commo's but with an election on the horizon which politicians will have the backbone to support more QE.

    Silver and SLW were consolidating nicely the last couple of days. Yesterday, a hedge fund having the size of at least $1 billion minimum bought a large position in SLW. I think $44.26 is a first stop for silver but we'll see. I'm not trying to trade it today and remember Monday is a long weekend so secure your position today and be happy with it. Silver shorts are taking on the chin this morning and I think the bulls will press them higher.

    My conspiracy theory: China largely escaped the great depression from being on a silver standard 8 decades ago. I believe the chinese or covertly accumulating silver.

    Good trading

2.92+0.06(+2.10%)3:12 PMEDT