This post was just published on ZYX Short Sell Change Alert and ZYX Buy Change Alert.
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The following post was just published on ZYX Short Sell Change Alert.
Silver can easily make a big move after the Fed announcement. If the Fed raises interest rates, silver will run. If the Fed does not announce a rate increase, there will be a massive short-squeeze in silver and silver will spike up.
Please understand that stops may not protect you as there may be a big gap up or a big gap down. Please see this morning’s capsule about probabilities of a rate increase.
Under the circumstances, for most investors it is best to follow this philosophy:
Nobody went broke taking profits.
Consider scaling out of the position in the zone of $13.82 to $14.46 and completely exit the position before September 17th 2:00 pm ET. Silver is trading at $14.36 as of this writing. SLV eq is trading at $13.76.
If you are holding a very long-term short silver position from 2011 where our guidance was to hold it for the very long-term and not touch it (trade it), you have very large gains. The foregoing does not apply to this very long-term position. Consider continuing to hold this very long-term position as interest rates are ultimately going to rise.
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