You've Been Warned
Pictured: a silver bar given to one of us for good luck when Silver was trading $4.50 right before Buffet reamed the producers. The guy pulled it out of a gym bag filled with them. Think he knew something?
UPDATE:
We're long Silver expressed in SLV (avg entry $16.94) as of this morning. We will look for a dip to buy Silver Eagles / Maple Leafs during the month from a reputable firm with quick turnaround.*FN
But where else does the head trader (not a salesman), Peter Hug, actually give smart well balanced comments to their base and isn't afraid to be bearish? That's as much a comment on the clientele as it is the company: Stackers not Flippers.
"EXPLANATE":
Basis spot we will remain long and liquidate on last day of month if below $17.40 ; approximately $16.51 in SLV for us. If the trade (it's not an investment) closes above $17.40 we will remain long with a new end of month stop level at or higher than $17.40. This is a risk / reward macro trade and Silver is not the only product we are entering into. CVS is another, and NG may be a third. But Silver is the focus of this post
SLV ( and Silver spot) Monthly says the risk reward does not get better than this for a long term trade.....
But Silver Spot 4 Hour says we're early and some pain is likely before next Vol cycle higher....
Real time interactive charts HERE
For Background:
Dear Algos: We're Buying Silver -Soren K. Group
*FN Frankly that means Kitco for us. Vince Lanci was a customer in 1997, long before we started writing this stuff. What's the difference? Kitco's turnaround time and they answer their phones even in swooning markets is the reason. There are others for sure we'd trust buying from, few we'd also trust storing with the exception of maybe Perth.
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