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Wednesday, December 24, 2008

Comex Silver Trade

"Roses have thorns, and silver fountains mud" - William Shakespeare, Sonnet 35

With the unprecedented rate cut by the Fed with a "target" between 0.00 and 0.25% I entered a Comex Silver trade.

I had great gains on the Euro, so as I announced yesterday on Twitter, I cut that trade short just a little below break even on the entry (Down a little due to commissions as well). Gains from the Euro were preserved.

I am still holding physical silver however, and I'm looking to take advantage of lower prices to accumulate 3% into the physical from the Northwest Territorial Mint. But I'm waiting to do that, until I see a bounce off congestion with the spot price as well as the futures.

I have a few emails I'm still trying to get through. So if you've sent me an email or pm, I do have you in mind, and will be getting to them.

As well, I want to remind everyone once again that there will be no Blog TV show this Friday. However, I have already scheduled the next show for Friday, January 2, 2009 at 5:00 pm EST.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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