June 10, 2009
– Comments (3)
Futures are indicating a huge jump in Silver stocks for the open.
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.
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.
Look at MVG as well, It's a good buy right now.