FleaBagger (99.16)

RL portfolio update

September 03, 2009 – Comments (0) | RELATED TICKERS: MVG

I took the huge silver surge today as an opportunity to close my long position in ZSL puts with a profit, and I intend to get back in if ZSL surges to 6.8-7 territory anytime in the next few weeks. I also greatly reduced my position in MVG at these prices (5.0101 to be precise), having enormously overweighted it in the 4.5 vicinity.

I don't think this is the end of <$16/oz silver, though I believe that time will come. In other words, I expect silver to find its way back down to lower levels every now and then over the next few months. However, if you don't already have some silver and gold in your possession, I don't recommend staking your future on that.