agree and disagree. Silver under 20 is a great longterm hold BUT I would buy the cheapest good delivery bars out there. RCM, Engelhard or JM. Paying premium on the coins u mentioned will not pay off in the end.
If you want coins, buy Maples, Eagles or Austrians whichever is cheaper.
smash down was predictable. My puts are at gold 1315 and silver 21....so well in the money.
Unfortunately this is not good for PAAS where I am quite long.
none of this info was public before day...unless u r management.
PAAS is the place to be IF you believe silver is going higher.
If solver going to 15 we can say goodbye to divined and PAAS will be at new lows/
i don't see this has anything to do with options...they simply lost money although reaffirmed divy which is nice.
Silver won't stay here for long IMO. 25 bucks by year end is my call and 18 bucks for paas
We are right at support in gold and silver...Getting v interesting. Im glad I bought protective puts in GLD and SLV although really want to get back my position in PAAS so hoping we can rally from here and not break down. Should be a very interesting few days.
1/2 my position gone. Cant believe 20.50 didn't hold in silver. This could get very ugly.
Bought some god and slv puts again for protection. Really hope Im wrong and lose out on my puts but this could get very ugly and fast.
decided that I wanted back in. Got them all back at 14.80 avg, so saved myself .70 cents plus what I picked up on the god and xsv puts.
Would have been more disciplined to simple wait to see if 20.50 holds but I took the gamble. Thats usually not the way I trade but Im convinced the level will hold. If it doesn't I will have to react.
The manipulation in the gold/silver mots will continue until it implodes unfortunately. Its a sad, sad world we are living in with the markets.
anyone who was buying at a 30% premium was an idiot. IMO, unless you buy enough PSLV to be able to redeem it ( 10,000 oz worth )...dont buy this product. Buy slv or better 100 oz silver bars ( good delivery )...they can be had for as little as 3% premium.
Its a myth that anyone can get their silver from PSLV, you must have at least 10k oz worth which takes most retail guys out.
just as I suspected...a smack down at the open. They will take gold below 1300 and try again to take silver below 20. I think 20.50 could hold though...well see. Happy I bought my puts in GLD, SLV, they are gonna be up big today.
while I agree that there is a very good chance of a short term drop to the 14 area...maybe even 13 with an imminent silver drop back to 20.50 area, I don't agree with your longterm view of lower lows. You are correct that tech analysis signals overbought at the moment. Good time to take some off the table imo.
dc...Im still pretty confident they will try to push gold and silver down once again.
Im still long both gold and silver, haven't sold at all and costs are really good but simply bought some put protection which I would be happy to lose. In PAAS still holding 1/2 just in case the dip Im expecting does not come.
miners leading the day down today. I see a big reversal in gold and silver coming. Bought some gld and slv puts today as hedge.
switch into gdxj. I did it a nth ago and v happy. While gdxj is up over 12%, IAG up 2%. IAG is one of the worst mgmt teams out there and a high cost producer.