I got a few fills in AH, exiting ZSL at $12.92, $12.94 & $12.97.
Obviously this wasn't my original 'target price', since these exits are only a few cents above where I got in. Sizing down just seemed appropriate, although even with all these fills I am still holding on to 80% of the original position.
The way I see it, silver's price action off the Korean incident is actually <b>encouraging</b> for my silver-short position. Why? Because silver & gold both <i>should have</i> gone up today on the news... but they didn't. I take that (the failure to rally despite bullish fundamental news) as a near term bearish signal for both metals. Like I said, I'm still holding 80% of the position...
Obviously this wasn't my original 'target price', since these exits are only a few cents above where I got in. Sizing down just seemed appropriate, although even with all these fills I am still holding on to 80% of the original position.
The way I see it, silver's price action off the Korean incident is actually <b>encouraging</b> for my silver-short position. Why? Because silver & gold both <i>should have</i> gone up today on the news... but they didn't. I take that (the failure to rally despite bullish fundamental news) as a near term bearish signal for both metals. Like I said, I'm still holding 80% of the position...
