Its getting boring again here in Comex land. I would love to report, but I feel its a bit repetitive at this point. I mean, how many times can I say, ZERO dealer deposits, and too many withdrawals?
Before getting into anymore technical stuff I would love to touch upon a few things that I've been getting emails on.
Firstly, a few people asking me if they should be selling their physical silver to take the money and 'run.' Well before you do that I would like to share a story about a big dealer I get my metals off of here in the great white north (great as in we pay $5.35/gallon and great as in overtaxed and really shitty roads)
My dealer has told me that out of 100 people buying a day, no more than 2 (2%) are selling it back to them. Of the two, many bought physical off them at prices lower than 10/oz, those two are usually selling half their positions and letting the rest 'ride.'
Crowded trade? Not so fast. The likelihood of a crowded trade is about 1-2 years away as it approached $500/oz. Yes, this is still my target, b/c at this point, it really will have no 'value' per say denominated in $US's.
Crowded trade? Fuck. I'm even the merchant of truth to my immediate family, I have been screaming for them to buy at any price (starting at $14) and guess what...? Maybe, maybe one has done it. I used to send out emails, facebooks (not on it anymore I cant support bullshit like that) and other forms of notification....but it just fell on deaf eyes. In fact, when I did try to push it, people got upset about it saying, "Silver!?" Can I buy Silver in my RRSP (401K US equivalent)? I just shook my head.
You see, as time goes by, and the price ticks up, and the bills at the grocery stores increases along with fuel and everything else...I'm starting to hear complaining about the 'inflation.' So I'll just sit here, on my computer, and type away to like minded individuals that had the metal capacity, and sticktuitveness to do their own research about this trade.
Okay enough of that crap, as I am sick of it. Moving on to more important things like options.
Okay, this is what I like to see still. Even at these 'highs' the smart money is still telling that we are going higher. Look at the volume of ITM (In the Money) calls being purchased as opposed to ITM puts. Its gone full retard. If you dont know ITM calls and puts are bought already past your strike price and can be exercised or sold off at any time if it remains past it. So, the amount of OTM (out of the money) puts being purchased here, in my opinion, are insurance trades on longs. If you have no idea what I'm talking about here it is in dumb down terms : Smart money still betting the price of silver is going higher or will remain at this level till May 21 expiry.
Oh and the other day I picked up some more phyzz at $43.19-I got tubes of Buffaloes this time as that is the only coin I dont have and at a great discount to maples or eagles I might add.
I will be releasing the new junior this weekend. Again everyone will be able to buy at the same level, even myself-we will all be in together on this one.
More to come later. You know how to thank me.