Silver s 42 overnight!

Silver was on "En Fuego" on Friday, reports from options market relate "huge May in the money calls on Silver, OI interest also grew in the metal at the Comex. The buying continued in the metal overnight as Silver touched 42 in the overnight and has since been in a steady decline. However its manged to hold a small gain of 26 cents for now. As you may know I have been taking profits at the 40 dollar mark, and only have a 50% position at the moment.

I was rather surprised that Blythe and her Coven did not defend the 40 dollar mark with conviction. Should this breakout fail, look to re-enter around 38.5-38.



Silver has gone from 20-40 bucks in just a few short months and a popular question this weekend was "Is it too late to buy Silver". The short answer is NO! You haven't missed the meat of this move. Silver and Gold will go into bubble territory at some point, but the time is not now. Knowing full well that no one gets out at the absolute top and the bells don't ring, letting you know to run for the exits but there definitely are signs. I will post some of those in the follow up. But for now, if you don't want to wait for pullback, parcel in over time and you should be alright.

Before you give up on buying silver read this.

Long (AGQ), Physical Ag