Monday, May 5, 2014

Silver Bullets


I'm going against one of my rules to seize an  very interesting opportunity.



This chart is from the folks from Tactical Beta. I like their no-frills, no nonsense, straight shooting talk. You should definitely check them out, even if just for the novelty of their opinions and ideas.

" This is now a triple bottom with support at $19…HOW MANY TIMES HAVE I SAID, “BE A BUYER AT $19″?"
Silver is very attractive sitting just above support "
So, putting my money where my mouth is at, I'm taking up a position in silver in my CFD account.

I don't like to mix my trading with my longer-term investing, but there is really no better option. CFD accounts gives competitive currency rates and charge a minimal spread, plus their carry cost is digestible at 1% pa.

Considering my other options, there is no other good alternative, except for going through BullionStar's Vault Gram, which is rather competitive. However, unlike Gold, I do not think that there will be a future rush for the physical demand of Silver, so I don't think that the premium to have the safe knowledge that my investment is hard-asset backed is worth it.

Just a small leveraged bet on this, let's see how I do.

Long Silver @ US$19.590

CFD prior balance: 2,852.42

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Observe the house rules.