Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
I made my case that silver was overvalued more thoroughly in March.
I still stand by that analysis, but I'm buying before the market opens. It's a risky move, and much more speculative than the decision to short, but I think speculators will offer support and that we will very likely see a significant dead cat bounce in the coming days. The condition of the global economy has not changed enough in the last two days to justify a $10 drop. Unlike other commodities, silver is a small market easily influenced by speculative demand, a fact that contributed to the freefall we saw last week and once which will likely help boost the price next week. The fact that 90% is trading at a premium right now provides a good sentiment indicator.
I would also be selling volatility on silver right now if I had the ability to do that.
Hey 57loaded & MsMorrisine...how were able to change your avatars with the customized ones when I wasn't able to on the 15th, the one day a month we're allowed to do so? SM1 told me that Carol must've forgotten to turn on the switch to do so. How'd you mange to customize yours? tia
To forgive is to free a prisoner, and to discover that prisoner was you.
Comments
I knew it would happen.
probably someone who has a lot of losing trades.
<< <i>Not if you have to ask.
Liberty: Parent of Science & Industry
<< <i>Hey, give us a heads up next time, brah. >>
I did post here not too far back that I thought silver was overpriced
I made my case that silver was overvalued more thoroughly in March.
I still stand by that analysis, but I'm buying before the market opens. It's a risky move, and much more speculative than the decision to short, but I think speculators will offer support and that we will very likely see a significant dead cat bounce in the coming days. The condition of the global economy has not changed enough in the last two days to justify a $10 drop. Unlike other commodities, silver is a small market easily influenced by speculative demand, a fact that contributed to the freefall we saw last week and once which will likely help boost the price next week. The fact that 90% is trading at a premium right now provides a good sentiment indicator.
I would also be selling volatility on silver right now if I had the ability to do that.
edited for grammar