Holy cats Batman, GLD, SLV, TLT go crazy

Posted on Nov 10, 2010 by in Letters

http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=6&dy=0&id=p59476852126&a=203282121

http://stockcharts.com/h-sc/ui?s=TLT&p=D&yr=1&mn=0&dy=0&id=p20970412253&a=203282126

SLV:  3.57%.  GLD:  4.10% and TLT: 2.33%.

Ranges for the metals and bonds.  When we first saw the markets freaking out we tried to call Batman but his phone was busy.  Then we learned that the Merc had increased margins on silver contracts.  That always causes perturbations if not major and minor chaos.  For traders it looked like a heavy duty reversal day. and depending on where you got in and got out it could have been fatal.  We closed our silver and gold trading positions.

This is only a preview. You must be a subscriber to access the full text of this letter.


 
Username
Password
 

 
Choose a Username*
   
Email *
   
First Name *
Last Name *
   
 
  * Required

Tags: , , ,

Comments

You must be a subscriber to view and submit comments on this post.