Silver to hit mid $60s by end of June

[drsteph]

Quote from dsss27:

19 April 11 5000 oz Silver COMEX COT:

Non-Commercial Longs: 48,325
Non-Commercial Shorts: 14,559
NC Spreads : 27,451

Commercial Longs : 34,043
Commercial Shorts : 86,735

Total Longs : 109,819
Total Shorts : 128,745

Total Longs-Shorts : -18,926 or -94.6 M oz or about -$4.5 B
(COMEX only, for the period)

See link to pdf for more on world supply and demand. Has some interesting insights to use to your advantage

http://www.gfms.co.uk/Presentations/2011/Silver-Survey-2011-Presentation.pdf

Tku.

 

[Surprise]

I am bearish on Silver and it will go down , but we could see 70 $ which will be a great opportunity for Silver bears , i would go with put options on a situation like this ...

 

[AK100]

Quote from Surprise:

I am bearish on Silver and it will go down , but we could see 70 $ which will be a great opportunity for Silver bears , i would go with put options on a situation like this ...

Be prepared to pay through the nose then because nobody is going to sell those calls or puts without making sure the buyer pays A LOT of premium, and a lot of premium means a lot can waste away...........

 

[Surprise]

Quote from AK100:

Be prepared to pay through the nose then because nobody is going to sell those calls or puts without making sure the buyer pays A LOT of premium, and a lot of premium means a lot can waste away...........

looking to start buying ZSL , but these leveraged etfs doesnt sound well to me ...

 

[murray t turtle]

Quote from Surprise:

looking to start buying ZSL , but these leveraged etfs doesnt sound well to me ...

================
Probably right , since this countertrend move, by definition, is ''shorter'' Most of that 7.77% plus move got gapped.

Dealers/market makers- traders may do fine, in any market.Oh by the way, speaking of patterns repeating , but not exactly. Consumers have complained to congressman/women abou t high prices/ long positions in oil, long positions in wheat.

Corn, dont know about that one, gov ethanol meddling partly caused corn Uptrends, as certainly as gov restrictions helped cause oil & unleaded to uptrend .

Let see , if Arabia were to dump thier gold & Citibank shares because of weak unleaded gas /oil /Citibank buy volume;
long term silver & gold uptrend is most likely to still uptrend.

$60 is the right long term trend direction;
short term maybe polar bear/panda bear trend.

Not a prediction, simply possibilities.