Silver To Tackle $15-17

[Jonflyfish]

Closed all hedges at spot $19.44 initiated up to $49 (+-$29.50 gain, which is a greater gain than the current spot price!) and scaling in to physical additions now as phase 1 is complete (sub $20 drop)

Cheers!

[Sheikh_yer_Bu'Tay]

annnndddd were below $20. just happen to check kitco this morning, and silver was below $20 for a few hours.

I have to agree with jjf, this is not the bottom of silver. I myself see it dropping all the way to the $4-$8 range. gas. were not at $5/gallon anymore, are we? it's still dropping. when has silver gone up this high and not come back down to the sub-$10 level?

IF silver drops all the way down to $4.00 most people on the street will think it's a really bad investment and stop buying it altogether (imho). Many miners will go belly-up.

That will be a good time to buy a silver mine!

[neilgin1]

Closed all hedges at spot $19.44 initiated up to $49 (+-$29.50 gain, which is a greater gain than the current spot price!) and scaling in to physical additions now as phase 1 is complete (sub $20 drop)

Cheers!

that's EXACTLY what I said in a prior post, in another thread, which I will NOW quote my own words....Guys actually THOUGHT you got hammered, but it was YOU who did the HAMMERING!

here's what I wrote:

yes....quite. Sub $20 did come and go... blast, but KBO I say, old man....KBO. "Keep buggering on"....oh dyeah. ......wait ! wait a minute Jon, I thought a way out of this terrible quandary hyeah. You said old boy, that you were going to HEDGE, based on physical holdings ALREADY ACCUMMULATED!!....which means....here's the beauty part, what you REALLY meant to say was that you were SELLING 21.28!!!

do you see?....yes! By golly and more crackey! yes!

You were just temporarily confused, that's ALL!!!....when you SAID you were "buying"....what you REALLY meant was that you were SELLING!!!!

because as you stated quite clearlay, you were hedging, which means you were SELLING!....and therefore, RIGHT ON THE MONEY!!!

Very good call! to be selling on a day like this, very prudent risk management to be hedging one's long PHYSICAL positions, while sell hedging using the futures, because for piss sakes old boy, that's what they are THERE FOR. Hedge, DDYOD and so forth and so on.

The only question that remains is this: when do WE remove the hedges, in keeping with prudent risk management analysis. Its all in relation to price, because price begets price, weaning any cognitive emotional response OUT of the equation. Emotional responses in the discharge of risk management frequently lead to negative results. Therefore we have been trained to wean cognitive responses from disciplined risk management portfolio practices. I couldn't agree more, friend.

Chairs!

this is very good stuff...indeed! and I shall close off with ANOTHER hearty

Chairs!!

[Jonflyfish]

No hedge.
Phase 2 Dry powder scaling in motion...Physical stack.
Cheers!

[Robarons]

Just to be curious did anyone short Gold or Silver?

[Jonflyfish]

Just to be curious did anyone short Gold or Silver?

Both.
Cheers!

[Jonflyfish]

Serially dependent and smooth continuous trending.
Cheers!

[Jonflyfish]

Almost to the prime window in phase 2. $17.77 is close.
Cheers!

[Jonflyfish]

Tide(Light blue), Wave(Magenta), Ripple(White)-

[Jonflyfish]

I could be 100% wrong but something tells me that another dive is coming.

Cheers!

[barrytrot]

I could be 100% wrong but something tells me that another dive is coming.

Cheers!

I hope you are at least 50% wrong. It will be painful to see another negative $5 (or whatever "dive" means). That will chop a lot off my accounts

[slickeast]

August 24th/25th 2010.

Last time silver was at this price.