Its great when a plan comes together. 38.00 is a 50% retracement of the rally which started at 26.23 back on Jan 28th. Silver took 3 months to almost double, and one week to give back 50% of that 3-month move.
I have sold puts against my existing long puts. I can’t thank that Radio announcer enough.
Look out for a melt down day here in a general commodity sell off. It will probably get over done, as traders head for the hills in front of Friday’s unemployment number.
Please make sure if you have profits you take steps to ensure they remain profits. Do not let winning shorts evaporate. I have been doing this long enough to know that the market will snap back.
CER
