SS says
So my Silver forecast was spot on.
I called in the top approaching $50.
I hope it holds.
And I have also very clearly stated the final bottom price.
Let us see if we get there.
===========
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=av9X9g3.aZjA
May 5 (Bloomberg) -- The biggest slump for silver since 1983 may not be over as the Comex exchange in New York makes it 84 percent more expensive for speculators to trade the metal, triggering an exit by investors.
The minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures will rise to $21,600 per contract after May 9, CME Group Ltd., Comex’s owner, said yesterday. That’s up from $11,745 two weeks ago. Open interest in futures has tumbled about 15 percent since the exchange began raising margin requirements on April 25.
“If you have to put up that much more margin, many people simply say ‘no, I won’t do it,’ so they liquidate,” said Dennis Gartman, an economist and the editor of the Suffolk, Virginia- based Gartman Letter. “It got a bit frothy, and frothy markets need to correct.”
So my Silver forecast was spot on.
I called in the top approaching $50.
I hope it holds.
And I have also very clearly stated the final bottom price.
Let us see if we get there.
===========
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=av9X9g3.aZjA
May 5 (Bloomberg) -- The biggest slump for silver since 1983 may not be over as the Comex exchange in New York makes it 84 percent more expensive for speculators to trade the metal, triggering an exit by investors.
The minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures will rise to $21,600 per contract after May 9, CME Group Ltd., Comex’s owner, said yesterday. That’s up from $11,745 two weeks ago. Open interest in futures has tumbled about 15 percent since the exchange began raising margin requirements on April 25.
“If you have to put up that much more margin, many people simply say ‘no, I won’t do it,’ so they liquidate,” said Dennis Gartman, an economist and the editor of the Suffolk, Virginia- based Gartman Letter. “It got a bit frothy, and frothy markets need to correct.”
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