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Thursday, December 29, 2011 11:02:25 AM
Who's Paying Attention to Silver? Hardly Anyone
* Tuesday, December 27, 2011
How many investors/traders left silver for dead at $9.98/oz on 10/21/08? Let's call a spade a spade and say a lot. Many investors, following the behavioral footsteps of previous fear-induced price declines, are proclaiming silver dead as 2012 approaches. The silver bear crowd, emboldened by size and sway of group think, is growing by the day.
Yet natural selection often suggests that size is not necessary essential for survival. Investors able to stand away from the crowd at least have the potential to see the invisible hand aggressively covering short and increasing long positions into price weakness. Net long positions as a percentage of open interest (NL%OI), -14.08% as of 12/21/11, is only 73 basis points lower than 2008 D-wave cycle low.
While history does not repeat, it certainly rhymes. Who’s paying attention? Let’s call a spade a spade and say hardly anyone. That works for me.
George.
Click on "In reply to", for Authors past commentaries.
* Tuesday, December 27, 2011
How many investors/traders left silver for dead at $9.98/oz on 10/21/08? Let's call a spade a spade and say a lot. Many investors, following the behavioral footsteps of previous fear-induced price declines, are proclaiming silver dead as 2012 approaches. The silver bear crowd, emboldened by size and sway of group think, is growing by the day.
Yet natural selection often suggests that size is not necessary essential for survival. Investors able to stand away from the crowd at least have the potential to see the invisible hand aggressively covering short and increasing long positions into price weakness. Net long positions as a percentage of open interest (NL%OI), -14.08% as of 12/21/11, is only 73 basis points lower than 2008 D-wave cycle low.
While history does not repeat, it certainly rhymes. Who’s paying attention? Let’s call a spade a spade and say hardly anyone. That works for me.
George.
Click on "In reply to", for Authors past commentaries.
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