ZSL update, yet another.

On Monday afternoon we wrote of silver that "We won't chase these bounces, given they are not usually of material height or duration. However if this one is, we'll be looking to buy our half-sale of ZSL back somewhere below $15."

We received correspondence today about this. Yes, we did buy back some ZSL below $15 and yes it is already over 15% higher only a day later, and finally yes we did book a profit on some of that repurchased position today and may do so on the rest of it tomorrow, thus getting back to 1/2 the original holding.

We do not have an interest in diarizing intra-day trades, nor do we believe readers of this blog have an interest in reading same, thus will not post when we make that move. We will post, after market hours as is our style, before we sell out the rest of the original position. Diarized entries we'll always post the result of, if and when we close the position. Entries suggested as general commentary we will not necessarily update even if we take positions.

We're pleased that some readers are doing so well shorting silver and have written to thank us for the idea, however the credit for the move is all yours as is the onus to act independently of anything we do or write.

We've been asked why we hold only half the silver short now, if we feel certain silver will go much lower? We're just being prudent, as the half-sale at Monday's open will attest. Also we're short gold, too.




We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the stocks we do, or for mentioning any stocks or companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

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