Opening Day!

March 31, 2011 By 9 Comments

Relax. Gold is going to $1800 this year, and silver to $50. You don’t need to click refresh on kitco.com every 3 seconds.  Gold and silver are both up big already today, so take a break, its opening day after all!

For those like us stuck at the office today, the 1st game of the season (Detroit Tigers vs. NY Yankees) can be viewed online here: Espn3


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Comments

  1. sierra_hpbt says:
    March 31, 2011 at 1:00 PM

    ahhh but those of us with May 38.00 call options just can't help but hit that kitco refresh button every 3 seconds.. especially when Blythe decides to pull the plug at 38.00 and take it all the way back down to 37.40 within 5 minutes.. lmao.

  2. SilverDoctors says:
    March 31, 2011 at 1:08 PM

    if she was smart she would have pulled the plug at $37.80 again, and not let it run to 38 first. Did you pick up any more call options with her flash discount sale?

  3. sierra_hpbt says:
    March 31, 2011 at 1:37 PM

    nope. no cash right now. also I am not a she..
    I am waiting to see where we are at in the middle of next week. I will sell 2 weeks before expiration no matter what silver is doing. 3 of the blogs I follow are calling for a parabolic spike. I'm hoping this gets going soon.

  4. SilverDoctors says:
    March 31, 2011 at 1:45 PM

    Was referring to Blythe, not you. If she was smart she would have pulled the plug at $37.80.

  5. sierra_hpbt says:
    March 31, 2011 at 2:05 PM

    ahhh man I feel like an idiot…

  6. sierra_hpbt says:
    March 31, 2011 at 2:09 PM

    what do you think doc? we still gonna see that parabolic move that endless mountain, tsitrader and brotherjohnf are calling for?

  7. SilverDoctors says:
    March 31, 2011 at 2:34 PM

    Technically silver looks like it wants to run higher, silver is not acting like it does at the end of intermediate runs higher. Our target is $40-$42 for this move. Could it go parabolic and run to $50 in the next 30-60 days? Sure, one of these days it will happen. However, silver is currently the highest above its 200DMA that its been in the entire bull market run. Does that mean it cant push higher and move to 40-50? No, but it does bode caution.
    We established new longs just above $26 during the first week of January when silver sold off from $31 to $26.
    Basically while we are still anticipating this run higher to continue, we prefer to establish new longs during "cant miss" sharp sell-offs provided by Blythe and co. Would you be able to withstand a correction if the Fed announces QE is over (for a month or so just to knock down metals prices) and silver sells off to $25-$30? You have to price in that risk if you are establishing new long calls after a 50% move up in 3 months. Hope this helps, and good luck.

  8. sierra_hpbt says:
    March 31, 2011 at 2:40 PM

    I did the same thing.. bought my 38.00 calls when silver was 27.10. I am going to see how things do between now and Wednsday.

  9. sierra_hpbt says:
    March 31, 2011 at 2:42 PM

    I would sure like to catch that move down 25.00 or 30.00 too!

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