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(I was not going to post this, nothing useful here, I’m just training, to properly post clickable charts) 😉 😛
At start of the year (per memory, give take few months) I bought 1.5 years out SLV calls. That is one of the trades I just decided to keep. This position of course got decimated.
But now, that silver is so low already, I would hope it would go bellow 20 and maybe even toward 18, where many producers become unprofitable. Imagine the bargains we would get if silver does move close to 18. Although, decilne last couple of trading days is increasing and it feels like some kind of capitulation may be taking place. At least short term…
You got it…Click
We’ll likely see a bounce first, but I am thinking Silver could get to the 17’s before we we truly head upwards longer term. GDX also has a really scary, huge, gap on it’s chart around 23 back in early November. I am expecting that gap to get closed as well.
> but I am thinking Silver could get to the 17’s before we we truly head upwards longer term
Well, if this will happen, lets hope, we will get some really nice bargains. Can’t wait!
Just a two bit comment about the phys market and what I see as value right here.
Considering the GSR – just taking a recent range of 75-83 for the past couple years – that means at 17.5 silver (split Gus and Buck), gold is headed to 1312 to 1452 range (VERY improbable without a March 2020 global event, but such is possible of course). If gold takes a big hit down to say 1650 at this ratio range silver will only bottom around $20-21. Today’s ratio is over 86 so already a stretched (AG) low relative to gold (GSR could go higher but a buying opportunity all the way up). I bought ASE’s (slightly less than BU) for under $25 today. CAN Silver dollars for just over $13 (.6 ozt ea.). I’d also say (the herd’s) attention globally is focused on PM’s more so than it was in 2008-9 and 2018-20 and this dip could be short-lived. Thanks for pointing out the GDX gap Gus, I have very strong support right here around $26 but if it breaks, look out.