It's been a very long while since I last posted here, as I've been extremely busy working 12 hours a day on the three projects that I have tried to run in parallel (most probably a mistake to have thought I could do that!). I have not even been in a position to find the time to trade or follow the markets as closely as I would have wanted.
But with gold and silver so depressed, I see value in them right now — at least for a short term trade, on the long term, I favor the depressed one digit silver price that I have been forecasting for a while. I've been quite vocal about all these "experts" who forecasting silver $150 or gold $3000 and took the short side of that trade while people were piling in on silver $47 all the way down to $36 but now that Silver is down close to 60% from the top, it seems like not a single soul is bullish on it... That's the right time for us, the realists and the contrarians, to become bullish and courageous and take the opposite side of that view.
Consequently, I have just opened a long gold (GLD@119.28) and a long silver positions (SLV@18.24). It might not be the very bottom, but probabilities are a in a favour of a relatively nice bounce.
No comments:
Post a Comment