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Re: Silver Backwardation - Ronbo
In Response To: Silver Backwardation - Ronbo ()

As long as Warren Buffett or someone like Bill Gates or T Boone Pickens doesn't come along and say they are long silver then I won't worry.

I had a small long position when the news that Buffett owned all that silver came out. I remember getting really excited thinking that Buffett was like the Hunt brothers and was trying to corner the market. If I remember correctly silver was in the 7.50 range. For the next couple of days silver moved up and then stopped and dropped. Later it was reported that during the run up Buffett sold half his position into a rising market. One analyst mentioned that no one new Buffett had such a large position then it was leaked to the media he had the large position. This is a man that has unlimited access to the media, if he wants it. Did he need the run up to sell half his position and is that why the news became public? I don't know.

Own a little physical myself just in case. I just think that with the big run up in all the grains, cotton, coffee copper, etc... that commodities are getting a little top heavy. No trading advice, but the higher we go the closer we get to a top.

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Re: Silver Backwardation - Ronbo