10:00 am (Hawaii) It's been some time since I had a position in ZSL. Opened a tiny position before the closing bell. If the CME mafia raids silver and takes it below 40, to 38, 35, 32 or below, fine. I'll turn my ZSL profit into physical silver. If silver rallies, I cut ZSL off my line quickly. It won't make or break my roll, but it'll add up should the slide turn into a waterfall descent.
FAZ is the other bear play I like, but I passed up opportunities at 44/45. Just too many tricksters in the game. Long term, the banks are fucked, but I hesitate because those banksters have more pull than any puppeteers in the scheme of things. 44 would've been a calculated risk with upside. At 48, FAZ could go back to 50 or 52, but not much higher before the bank stocks rally on a debt ceiling agreement. Then it might be time to ride a little bit of FAS, though my preference would be to get a first-class seat on Air AAPL or the BIDU express.
photo: Kim Yu-Na, LocoInYokohama.com
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