I’m adding a little more commodity exposure going into the weekend, mostly to offset my ERY position. Same concept as APC. I like my chances for another bleedout next week, because I have ZERO faith in the European Union.
Also, I really like silver prices at these levels. Long term, silver is a screaming buy, for a myriad of reasons, not overlooking our own debt problems here at home and the fact that I have ZERO faith in about 2/3′s of the US Government.
I’m actually looking to expand my holding of physical silver, but if I were to do that I’d need even lower prices; somewhere between $25 to $26 an ounce. If we get another liquidation (perhaps of some arrogant hedge fund type?) I would be compelled to make the most of the situation.
Thus, this purchase is mostly for lower exposure just in case something extroardinarily reinflationary hits over the next 48 hours.
In the event I’m right and we run lower on Monday, I’ll be well on my way to taking profits in ERY. And, at such a point that selling began to become overpowering, and intervention on behalf of markets looks inevitable, I will be selling SLV, creating a loss, and rolling over funding, plus some extra, into AGQ – a 2X product. Plus that purchase of physical we talked about.
These are precarious times. Be safe.