Okay looks like the $60 June target for Silver isn't happening, I've closed out my Silver July positions for a 95% loss. A huge hit on my portfolio. Silver is currently at $32.15. It's probably going to fall all the way to $30 and maybe even the Jan low of $27. In hindsight I should have closed my positions when silver got the other smackdown in December but these are abnormal times. It is worth taking a shot in these times because these events can change your life. I'll probably re-enter if Silver really does go to $27 but for now I've closed out all my Silver positions. Silver has been consolidating for 11 months now since the May smackdown after a 9 month rally from Sept 2010 to May 2011. There's no way that Silver will even be $50 by June, if it did that would be a 56% rise in 3 months! But we'll see. Perhaps Silver will still reach $50 by years' end. 56% rise in 9 months that's doable. But who knows? The metals are manipulated so it's really hard to tell how the price will move. Silver reached $37 end February and looked like it was going to head to $40 according to Tech Analysis. And right now, well... :) that's why for a simple person it's just easier to stay long and buy on dips.
Keep the faith.
