That right shoulder in Bitcoin has curled over & broken a trendline which has been in play from the start of this rally, it’s just sat on the 100-week EMA now. Ugly.
Goldman Sachs’ top precious metals trader, Benjamin Binet-Laisne, left the bank today, or rather he was let go. This is not a coincidence. He must have lost a fortune shorting silver.
I just woke up in Australia where I am currently stranded on day 5, hopefully departing tomorrow if we can get a plane here. I don’t spend too much time looking at the screens and I am retiring in the fall. The current vol doesn’t bother me at all and I would have a hard time sleeping if I didn’t own an overage by any standards. Tectonic plates are shifting. Copper prices quadrupled over 10 years ago and stayed there and they may be setting a new range now. Lead did the same thing 10 years prior. It’s our time in precious metals now as well and we have no idea where that range will be. I have a plan to try and make one big trade in this bull and another to sell all of my paper metal exposure and miners. My trade is what I want to see happen in pricing and a timing issue and it is coming up soon. I believe we will see volatility much much higher. PSLV has an intraday 8% discount to nav. Incredible violence is happening as these plates have not been allowed to move freely on their own for decades just like all the stick saves in the stock market from the fed have not allowed it to clear. All my old OG PM gold bug bulls have sold out….. I am still sitting for now. Good luck to us all!
The only thing remotely working for me for silver that doesn’t result in ulcers and lost sleep is bull call spreads on the ETFs.
There is a - as of this second - $17/toz displacement between China and the west. I’m basically front running the China price to the west. If I see it collapse I’m out. So far it’s been working.
Whenever I can spend some time away from the screen and not be thinking about it then my position size is right for the markets...
Good stuff.
Caught that too, and it struck a note. Sage.
That right shoulder in Bitcoin has curled over & broken a trendline which has been in play from the start of this rally, it’s just sat on the 100-week EMA now. Ugly.
(not so much) Off Topic:
Quote:
Goldman Sachs’ top precious metals trader, Benjamin Binet-Laisne, left the bank today, or rather he was let go. This is not a coincidence. He must have lost a fortune shorting silver.
End quote
I just woke up in Australia where I am currently stranded on day 5, hopefully departing tomorrow if we can get a plane here. I don’t spend too much time looking at the screens and I am retiring in the fall. The current vol doesn’t bother me at all and I would have a hard time sleeping if I didn’t own an overage by any standards. Tectonic plates are shifting. Copper prices quadrupled over 10 years ago and stayed there and they may be setting a new range now. Lead did the same thing 10 years prior. It’s our time in precious metals now as well and we have no idea where that range will be. I have a plan to try and make one big trade in this bull and another to sell all of my paper metal exposure and miners. My trade is what I want to see happen in pricing and a timing issue and it is coming up soon. I believe we will see volatility much much higher. PSLV has an intraday 8% discount to nav. Incredible violence is happening as these plates have not been allowed to move freely on their own for decades just like all the stick saves in the stock market from the fed have not allowed it to clear. All my old OG PM gold bug bulls have sold out….. I am still sitting for now. Good luck to us all!
What a difference a day makes 👍 😊
The only thing remotely working for me for silver that doesn’t result in ulcers and lost sleep is bull call spreads on the ETFs.
There is a - as of this second - $17/toz displacement between China and the west. I’m basically front running the China price to the west. If I see it collapse I’m out. So far it’s been working.
Just read. So can you provide a reminder on your current position on silver? Are you taking a small paper short here?
Excellent as always! Looks like the new patrons who got stopped out for a loss are waking up to another decision.