Wednesday, April 5, 2017

In my humble opinion SLV crash

There's a lot of compression here and it looks like it's expanding to the downside. 

You never know, it can explode to the upside of course.  It seems as though everybody is expecting a drop (except Bo Polny, who expects April 11 to be a top). 

I think if there is a drop, whatever low it makes will hold.  I think it will stop above the previous low but maybe not. 

I actually have some calls and puts, both out of the money.  The long is a bet on Bo Polny's 60 dollar silver by the end of May.  It could very well be true of these fiscal battles (debt limit and budget expiration) don't go the conventional way.

Update April 7th - Still looks about the same after a couple sideways days.  It looks bearish to me.

I think this will be the last significant drop and the lowest price for some time.  If it hits like 12 or whatever ridiculous number, I'm going full retard with credit card checks that I don't have to pay any interest for like 12 or 18 months.

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