Silver going parabolic?

Tsing Tao · Feb 18, 2011

holy crap. i'm long and nervous as hell. i keep moving up stops to allow for potential massive slippage on a cratering. can this continue?

Wulfrede · Feb 18, 2011

Yes it can. But I think downside favors the odds at this point.

peilthetraveler · Feb 18, 2011

Silver is going so much higher. We are still deep in backwardation territory. Selling now is leaving alot of money on the table. Shorting is suicide.

Wulfrede · Feb 18, 2011

For the long run, you're likely spot on. For a daytrade, maybe I am.

promagma · Feb 18, 2011

I took profits on some SLV calls today, and rolled partially into SLV 45 July 2011 calls .... seems like not a bad deal at 31 cents. I feel better with most of the money off the table, but still have a longshot trade.

peilthetraveler · Feb 18, 2011

Quote from promagma:

I took profits on some SLV calls today, and rolled partially into SLV 45 July 2011 calls .... seems like not a bad deal at 31 cents. I feel better with most of the money off the table, but still have a longshot trade.

With what is happening in silver, it doesnt sound like that big of a longshot to me.

Trendytrader · Feb 21, 2011

Check out silver today. With the middle east going up in smoke everyone is running for cover.....once upon a time it was UST now its gold and silver.

Tsing Tao · Feb 21, 2011

still long, moving up my stop loss as it goes. no idea when this rodeo ends, but it'll be ugly.

Trendytrader · Feb 21, 2011

When I hear staff at work saying they have lost faith in USD and are buying physical gold and silver for a form of financial insurance then you know the game is up for USD.

The FEDs QE actions are only helping people lose faith in USD.

There is a real risk of a sudden run on the dollar to anything else but USD.

Tsing Tao · Feb 21, 2011

Quote from Trendytrader:

When I hear staff at work saying they have lost faith in USD and are buying physical gold and silver for a form of financial insurance then you know the game is up for USD.

The FEDs QE actions are only helping people lose faith in USD.

There is a real risk of a sudden run on the dollar to anything else but USD.

on the contrary, when i hear staff at work jumping on the train then i get even more worried. the last thing i want to hear is my taxi cab driver telling me he's long silver.