RM's occasional market calls...

Ok, the short-term top is clearly in now. I have bids in to short more silver (buy more ZSL, actually) in case silver bounces significantly from here in the next few hours.
 
Terrible entry price non-withstanding, note that this trade is now profitable. I only managed to increase my size by a small amount today, though.
 
I have to cry foul RM. Somehow I think you had some inside information on this margin increase at the CME. I know you have some connections to higher powers and I dont mean any of those mentioned in the Bible. I think you will deny what I suspect in any event. Somehow I find it curious that you went short just before the announcement, thats all....
 
Quote from retaildaytrader:

I have to cry foul RM. Somehow I think you had some inside information on this margin increase at the CME. I know you have some connections to higher powers and I dont mean any of those mentioned in the Bible. I think you will deny what I suspect in any event. Somehow I find it curious that you went short just before the announcement, thats all....
More...

as a good catholic RM will undoubtedly confess and repent here on ET :D
 
Out of 35% now, still holding 65% of the total position...

SLV closing price was $26.18, down a bit over 3% on the day, and the general area of my exits so far. (This equates to a 6% gain, since I used ZSL.)
 
I was able to unload a bit more ZSL in AH trading at $13.79 (3 cents worse than the closing price). So in total I'm out of 47% of the position, holding the other 53% into tomorrow.

My plan for Wednesday: If silver bounces strongly, I'll look to size back up again... but if it drops enough, I'll just exit the entire position.
 
I think Silver will continue to drop.

fut_chart.ashx
 
SLV up over a buck (SLV is $27.24 bid).
Short more- right here, right now!

Edit: I just doubled what was left of my position- bringing it back up to roughly the peak size I had on yesterday. SLV at $27.32.
 
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