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Back on October 16th, I did a fifteen-minute video for my premium members about how enthusiastic I was about silver. In fact, I haven’t been able to shut up about this topic. Not to say that the past month of silver action hasn’t been silky smooth………
We’re just over an hour into the trading day, and it’s look good so far. Below are my fifteen bearish positions (I am long puts on all of these, expiring no sooner than January 17 2025). Three are up a tiny bit, but on the whole it’s a really good morning.
I own a lot of physical gold and silver, and I had planned to amass a VERY large position in PSLV.
I established a medium-sized position, got out at a good profit a couple of days later, and since then have tried entering and exiting a few times, losing money in each instance (but preserving most of my earlier profits). This morning was the last straw. As thrilled as I am about silver’s prospects, I am not TOUCHING this stuff again until after the election.
We will soon discover if silver’s minuscule pullback late last week was all that it’s going to do. I am medium-sized long PSLV right now and will cheerfully go full-bore if there is more strength. As it is now, there is a greater than $10 measured move that should transpire as long as we hold above the lows of the past few trading days.
