Silver about to rocket?

  • Thread starter Thread starter morganist
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Yes, Silver is going up, but it might be a month or two. How do I know? Because I've been holding my silver since $15 per oz and I'm about to sell at least half my holdings in silver to buy real estate in the next 30-60 days. So the day I sell my silver, the very next day it will rocket up at least $20 per oz.
 
Quote from peilthetraveler:

Yes, Silver is going up, but it might be a month or two. How do I know? Because I've been holding my silver since $15 per oz and I'm about to sell at least half my holdings in silver to buy real estate in the next 30-60 days. So the day I sell my silver, the very next day it will rocket up at least $20 per oz.
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Yeah but I bet you made a lot on it regardless.
 
Yeah, I did pretty good on it. Average price I paid around $15 per oz in 2009. I sold about 30% of it at $38-$39 per oz last year, so I guess if you factor that in, my dollar cost average is about $4.88 per oz. Meaning as long as silver doesnt go below that, I'm still in the green! haha.
 
I always think silver is undervalued compared to gold, but I have to wonder about this JP Morgan short position. It seems like I've heard of this for a long, long time and it seems like it would have blown up in their face already. Can anyone really prove JP Morgan actually has a large short position in silver (and by large, it seem like it would have to be super large to really threaten JP Morgan)?

Also, it is believable that a large investment bank would really open a huge short position in a precious metal and never bother covering it or managing it in any way?

JJacksET4
 
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