Re: FWIW.... YUK!
in response to
by
posted on
May 05, 2011 02:39PM
Well the SILVER market this week REEKS of manipulation.
Picked up a few May 45 calls today (just enough that if I'm right in my other post, I'll be able to sell them and end up with the original principal I originally invested in the options when I started).
Nothing changed fundamentally with the economy, in fact jobless claims spiked to their most initial in a long time.
That $1,000,000 bet on puts I posted about on the previous link is now worth $4,200,000.... and that buy was made at a VERY RISKY time. Now if that doesn't indicate someone had previous knowledge of the manipulation, I'm not sure what does.
If this is a bottom, SILVER will rebound very sharply as it has been paper that has been traded and there isn't enough metal available for delivery according to numerous sources for this month. Shorts have sold way more than available in world production in ONE day
Luckily, I have followed the FIRST rule of option investing.... don't trade more than you can lose.
And when EDIG gets to where it should be after the Markman, what I put into options so far will be just a drop in the bucket.
Anyway, at this point holding tight until Tuesday. Then I'll know if I was right or wrong for this week.