Wednesday, July 27, 2011

Sure, there are no coincidences

8:13 pm (Hawaii) I believe that. Maybe there are accidents and what not. But really, is this a coincidence that Spot Silver is virtually duplicating its movement tonight. Look at how tonight's price action compares to that on Monday at the exact same time. For those of you who truly believe spot price in silver and gold are completely off the chains, not handcuffed by the CME mafia at all ... do you think tonight's gold price is coincidentally mirroring Monday's action, too?

Whatever the case, I'm fairly prepared. If price rises, my gold positions gain modestly and I'll wait for another time to acquire more physical. If silver rises, I junk my new, small ZSL position and wait for another time to acquire more physical.

If price drops drastically in gold, I hold my positions and wait for a good time to get more physical. If silver price drops drastically, I wait it out and see if gets below 40, 35, even 32. If I were greedy, I'd buy paper to the hilt and gamble. But I prefer physical in this wacked out environment. You guys can do the casino thing just fine. Oh, and I'll probably hold ZSL until after the post-debt ceiling "agreement" melt-up (in stocks) and selloff (in precious metals) is done.

photo: Kim Yu-Na, Samsung

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