Another round of smackdown is ahead for Gold and Silver

CLOSE my Silver short position @15.06 USD.

GSR has been approaching extreme levels. Swap dealers are being fxcked by panic investors worldwide. Probably it is time to exit, not much gain though

 

Looks like we are knocking on the door of $14 handle silver again. Like I say, we are going to be droppin' before poppin' again.


EDIT: Right now dropped to $14.75. See Leon, you shouldn't have listed to those here telling you that you were going to lose your a$$ going short.

Just my opinion.

Jim

 

Pissed, close my shorts too early.

Jim, you're better than me; I will follow you from now on.

 

day late and a penny short! Almost man...

 

Just use my small profit from shorting silver, to order one tube of Silver Maple (JM Bullion weekly sale, US$16.76)

Could have been three tubes if I covered one day late. Damn.

 

After all that, you went and got a tube of maples? You must love risk and disappointment.

 

If Leon made enough profit to buy a roll of Maples in just a couple of weeks, how is that bad?

Jim

 

Buy tube of maples -> open tube of maples -> wait a couple of days -> dissapointment

 

I seriously think we will see 13Usd per oz this year, even 12 is not out of the realm of possibility. Seriously looking at selling the house before the real estate market totally craps itself. Sit tight and wait for the Pm to bottom out while renting and re invest. Housing market will bust pms will rise, then can buy back into housing market while its flat. Gotta see financial adviser. In theory it works, no reward without risk, it's the only way I know how to get ahead nowadays, never done it before either. Not overly confident but by the time the bubble is common knowledge it's always too late. If the real estate market implodes there will be people with more capital debt than the value of their homes. If the metal smack down is going to continue this all seems like a very real scenario. I am not a baby boomer , I am gen x, boomers have had hundreds of percent increases in real estate and major capital boosters, if not now...... when?????

 

After reading through last week's Silver COT report, I decided to reopen my silver short position.

@US$14.83

Will add more if silver spot tries US$15

 

Good luck Leon. I am considering selling some of my semi numis stuff this week and hoping for lower prices so I can put the proceeds into cheaper bullion.

Jim

 

I just did exactly this. I sold off 6x1g + 5x3g 2016 gold panda & 36 oz 14/15 silver pandas for 4 kgs of silver. I still have some silver but decided to cash out some of the premiums. I'm hoping spot makes a run for it.

 

Someone has to make a meme of this :|

 

Added more short position @US$15.01 as planned.

 

Looks like you are doing pretty well at the moment with silver at US $14.80 at the moment. How far down are you hoping to ride this?

 

and the tide turns again! lol.

 

How those shorts going? Any more news from the COK report.

 

Why can't silver break into the $16's?

Jim

 

Was above water, now below again.

But I have faith in Market-makers; they should be able to knock down silver price since it is a much smaller market than gold.

 

Good thing you only pretend to short markets otherwise you would be worried.