News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Silver Rips 3% Higher on the Day as Precious Metals Move up Strongly
Silver Rips 3% Higher on the Day as Precious Metals Move up Strongly
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GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
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US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
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*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Silver Stalls

July 12, 2021 - (Gold Market Wire) - Silver continues on its road to nowhere, reverting, once again, to the $26.00 level, and, for the time being, looking prepared to go nowhere of importance. This is getting to be a feature in the markets. Endless vacillating around a pivot point (last time it was almost three weeks) followed by a huge lurch on way or the other. The professional options traders are the only ones making money - by selling volatility in the middle (at-the-money) and capturing inexpensive wings (out-of-the-money) as cover against a potential move. Right now, being short the $26.00 strike is the place to be...although it is only Monday. Those who 'called the stall' got all the Theta (time decay premium) over the weekend and are sitting happy. The chart shows the convergence at the $26.00 even when drawn from a handful of perspectives.

...convergence of trends

If we consider the horizontal, around $26.10, the trading range is small, and the premium sellers are sitting happy.

whole lotta nada.

Now, of course, the task is to try and react when the market moves (good luck!), without trying to anticipate when it will move. Well, the options traders have shown, yet again, that in dull, listless markets, they are the ones who make money. When a market doesn't trend, the passage of time suits the 'butterfly' (short ATM long OTM) book well. It's been a month of almost no action - and the paint dryers are making hay. Let's see in New York can livin' things up.

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