May 3, 2011

We are sitting on big profits in a variety of silver (SLV) related trades including  ProShares  UltraShort Silver (ZSL).   We are locking in partial profits right here.   We will completely exit our futures position  on any downspike  below $33  , but may maintain  a small position through another vehicle for subscription services. For details, please see    ZYX BUY CHANGE ALERTS and   ZYX SHORT SELL CHANGE ALERTS.

Opportunities to sell silver (SLV) right at the top and at 22% over the market price will not come around everyday.   Fortunately, the subscribers to ZYX SHORT SELL CHANGE ALERTS  were able to capture such an opportunity by using a publicly traded vehicle that was trading 22% over the net asset value of the underlying silver.   We will continue to hold this position  as we expect ultimately this vehicle to trade at a discount to its underlying silver assets.   We anticipate a total return of almost 50% in a very short time.

We are also long  ProShares  UltraShort Silver   (ZSL).