Tuesday, July 7, 2015

Silver 1, Brodrick 0


Whee! Keep stackin' phyzz!

It seems like only yesterday that the Broddinator said

But what could drive silver that much lower? Greece? It's a tempest in a tzatziki bowl. A collapse of the Chinese stock market, maybe, as traders and investors sell what they can because the value of their shares have gone up in smoke?

and then I said

Well, I guess it's good to question how silver could possibly ever make it to $10 again. As long as you weren't previously questioning how the heck silver could ever drop to $15, cos it turns out we're there now.

In fact it was only yesterday. And now silver is making - you guessed it - its move to $10.

So there you go. At least Sean didn't say that gold "should now start to catch a bid".

The moral of this story being that predictions are sorta like heroin, or autoerotic asphyxiation, or the new U2 album: try it once to see what it's like, sure, but don't make a habit of it.


  1. You left out the part where I said "I'm not encouraged by recent price action in silver." In fact, this chart was my analysis of why I thought silver would go lower. That's why we sold SSRI last week (mentioned in my Twitter feed, not on the blog). Good luck anyway.

    1. OK, but to be fair you also said

      "Certainly global supply and demand support HIGHER prices for silver. And I put MACD on the bottom of the chart. It seems to be positively diverging from recent price action. Again, that would point to higher prices."

    2. Yeah, it pointed, but silver went in the other direction. Go figure. I'm glad I took the hint from price action and exited SSRI and LSG. We'll see where prices settle. Good luck.

    3. Well, no shortage of plays setting up. Why not short vix at 30? Or buy FXI in a few days? P/E is back under 9 supposedly.