Market Curiosity: Exploring Markets And Systems

May 27, 2011

Finally bought some SLW July 37 calls for 2.30, and silver SIFO backwardation update (update 2, August 23)

Filed under: Long Calls — Tags: , , , , — Jeff Fitzmyers @ 7:16 am

+ Down trend line broke with a samll back test. Could be a bigger back test so only entered a partial position.
+ Showing divergence in SLW silver ratio.
+ Closed the gap from about 2 weeks ago.

Fundamentals in no danger of changing anytime soon:
+ fed/gov printing forever.
+ Market is in a constant (partial) backwardation.

CME silver still in partial backwardation.

June 1: I think this might be a real loser. Although it was not do too much considering. The fundamental picture is as strong as ever, but I’m not really looking for a bottom until Martin Armstrong’s June 13-ish turn date. On the other hand the silver market could snap at anytime. Of course that one thought has cost me more money than any other thought so it’s getting time to cut losses.

The weekly and daily CCI look good though. The monthly does not, but lags a lot.

August 23: I don’t recall what happened with this one. I think it might have lost money though.

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