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ChrisGraley (29.89)

Hi-Ho Silver!

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June 10, 2009 – Comments (3)

Futures are indicating a huge jump in Silver stocks for the open.

3 Comments – Post Your Own

#1) On June 10, 2009 at 10:27 AM, ChrisGraley (29.89) wrote:

I'm looking at the spot silver prices right now and they did in fact open high, but are getting forced down after the opening bell.

Hmmm... They started $ .30 above yesterday's close and are now $ .10 below.

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#2) On June 10, 2009 at 11:06 AM, speedybure (< 20) wrote:

ChrisGraley :

Chris a great well to guage bullish sentiment in the futures market is backwardation (I.E those expiring further out are cheaper than the current or next month).

I got out of futures at 15, because like gold i believe the govenment artifically surpresses prices. See Gata.org . I would love a pullback to get back on the wagon but for now i will stick with oil which I reduced by 60% and Wheat. Lately I've been favoring silver wheaton and options on silver standard resources (the latter through options). I also got to meet the CEO of Silvercorp at a convention and was impressed, which is another reason I am hoping for a pullback.

Good Post, Most people don;t realize the importance of Contango and backwardation. For example there was backwardation in Silver when in was in the low-mid twelves, which i looked at as a buy signal.

-Cheers 

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#3) On June 10, 2009 at 6:48 PM, ChrisGraley (29.89) wrote:

Look at MVG as well, It's a good buy right now.

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