OK, I now understand it. I apologize to anyone (death) for my ignorance. However, if you want to short Silver, you absolutely can use FCX-D as it tracks Silver almost exactly. Technically, it should be exact.
Nsom: Thanks for the tip.
Each share is backed by 1/2 ounce of silver. Orignally, it was backed by 4 ounces and every 6 months, they pay out 1/2 ounce. The last one will be in August and then the shares will be retired.
Presently, with Silver at $14.02, the price of a share of FCX-D should be $7.01. It is $6.98, but you get the idea.
Shares are available to be shorted as per A-Trade.
I think I'm going to short tomorrow. The chart below is a pretty good (nay, INCREDIBLY good) reason why. However, I'm not going to short as much as I was going to short. My original idea was to short as much as I owned (if I hypothetically owned Silver, which I categorically deny). However, the rational is to get the spread between $14 and $11 and then cover - never affecting the hypothetical amount in my hypothetical possession.
If it worked that simply, then it would be ideal, but what if it goes to $16 before retracing and then only goes back to $13 and I don't cover until $14. I gained nothing. Therefore, what I've decided to do is to short (hedge) 1/5 of hypothetical at a time. This is a long term decision. This allows for it to continue to run over the long haul as a good investment. Hopefully, I will be able to capitalize on pullbacks along the way.
I'm not a shorter normally, and am still averse to shorting any particular stock. However, shorting a metal on a parabolic breakout as a hedge is perfectly ok with me.
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