Well, isn't this fun? What was it, three weeks ago when I first mentioned $45 silver before May option expiry? At the time, that sounded crazy...the lunatic rantings of a delusional turd. Well, well, well...
I don't know about you but I'm made some serious fiat over the past few days. After selling my May 40s back when things were heading lower last week, I went long 41s, 42s, 43s, 44s and 45s. It would be an understatement to say that that has worked out quite well. As mentioned last night, I am slowly exiting the last of these positions today. I only have a handful left. I've made more than enough paper frn to cover the cost of the new site, however, I do not wish to dissuade anyone from showing their gratitude for all the great information provided herein.
Now, as mentioned last evening, we must be on the lookout for a pullback. Recent history suggests that the period of Thursday into Tuesday will be the timeframe. It will most likely be linked to a dead cat bounce in the POSX. The topcallers will be out in force proclaiming this week as the ultimate parabolic blowoff blah, blah, blah. Ignore them. Wait for the metals to pull back to some clearly defined support levels and then lets go for the glory.
In silver, the level to watch on any pullback is $42.
WTI crude is definitely going higher. This hourly chart could not look much more bullish. It may stall briefly near 110.50 but, through there, its straight back to the recent highs near 114 and, through there, it looks like 122.
Lastly, here's a reprint of the update to the last thread regarding the POSX. Please take time to read and plan accordingly:
No funny pictures this time as this is getting serious. The US$ is in some deep doo-doo. Look at the action overnight:
More later. Stay nimble. TF