Freaking Silver. Duh!
While the big money now tries to corner the silver market I will corner the market for the search term hihosilver.
Silver was showing up on every momentum list for months. For those that follow my Momentum Monday shows you know that I was long $slw for a long time before selling a few weeks back. It’s been a meaty trend. I have missed some good and fast times in just two weeks.
I don’t know how anyone can get excited about silver in reality. It is astonishingly boring. It’s silver. It’s not gold and is a poor man’s platinum.
Today, CNBC trotted out the CEO of $slw after the stock has doubled in like 4 months and up 1000 percent on profitable hole digging and hedging since the bottom. The CEO, no disrespect knows as much about why the stock is going up as you do. It’s sillytime as The FED is the CEO of commodity stocks. The time for scorekeppers was 12-54 EST. This is from searching the web after the fact for exact time, not actually watching or caring. Game shows are better content during market hours. I don’t trade well, but know this sector well by now and tweeted that Silver was fucked. Silver crashed about 10 percent from that moment.
CNBC is not useless and not going away. It’s a data point that the Stocktwits Stream just brought to my attention and caught my eye as silly seeing that Silver is …well silver.
I highly doubt that this was the absolute top in Silver. I have never called a top or bottom correct in real-time. It’s not important anyways. What is important is to learn to read the tape. I am proof that anyone can do it and in 2010 if you glob on to a trusted network, you can learn 1000 times faster than just 10 years ago.
I quickly caught a bunch of messages from my pal and MUST follow @eddyelfenbein who should be a spokesperson for how to use Stocktwits. He’s timely, on point, funny, writes well and gives good link. He followed later with a post. It’s a good recap and a data point that you will look back on and go yep…seen this chain of events before.
Do not confuse a bull and bubbles with any brains.
Embrace the insanity.
The FED is in charge and the policy of our government is to inflate.
Pigs get fat and hogs get slaughtered.
Follow the government closely when money is involved. DO NOT FIGHT THEM.
And CNBC is…sadly useful.
“Embrace the insanity”
I’ll reserve that motto for 2011, until then I’ll ride the sanity curve to the bottom.
my friend whose family owns a few jewelry stores is having trouble keeping silver in stock. as good has become so expensive relative to levels the past couple years, customers are continuing to trade down to silver.