It's amusing that utterance of anything even remotely bearish on this board is greeted with comments like "Grrrrr" or "You're an idiot". Silver's had a phenomenal run, and a hefty pullback seems imminent....not just to silver, but commodities in general. Seems pretty clear smart money is going short on silver, and irrationally exuberant investors riding the coattails of the bandwagon on the Yahoo board think the rally will continue just because. No position currently, but the starry eyes and drooling tongues and "we're going to the moon" ethos this board tell me I should be following the smart money and going short.
If silver is such a bubble then why haven't the mining stocks out performed?
See the downgrade on america future announced this morning?
Most of these longs you bash have been talking about this since last November....you would be wise to listen....
Unprecedented volatility and events are unfolding before our eyes....make sure you are on the right side of this historic trend and trade
Another good point, maybe the guy has money to burn and figures the risk of losing most or call of a $1M "investment" is worth the possibility of a 10x or more upside. And sure, he could try it three, four, five times, and still come out 2x or more ahead in the end if he finally nails the top. But you just don't often see someone throwing that much cash at options so far out of the money....at least i don't. it's pretty interesting to me.
There's even a book about the market always being right.
Sure there are lots of cheerleaders here. Why not, the run may not be over. I could see some kind of selling pressure build. The price is getting so high I want to wait before i add anymore. But I see guys like you come here every day. You guys call this a top. Then four or five days later we never see them again. Do you think we will be seeing you next week?
"Guys like me"? why, because my opinion is different than the herd's? You're right, the run may not be over. And I didn't call this the top, and don't claim to be able to call it, but i do think we see a heavy reversal very soon. I'll be taking a position in mid summer puts first thing in the morning. Heck, even if it goes to 50 first (which i don't think it will or wouldn't be taking a short position), i think there's a hell of a lot more downside from there than there is upside, and think whenever the retracement comes it will be vicious and will take SLV far below today's close.