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pmbug

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Turd says this week is going to be very significant for the paper traders:
More (recommended): http://www.tfmetalsreport.com/blog/3441/please-read-extremely-important-post

Last week saw a massive influx of new money and naked shorts by the banks into the paper market (for both gold and silver).

 
My gut tells me we're up for a significant correction.
Technically, pms are overbought, the dollar is oversold, stockmarkets are up for a correction too. Silver lease rates are falling. The 100 million oz of paper silver which were unloaded on friday are not a good sign either, maybe somebody frontran the market...
 
I am no fan of paper. Stack physical.
 
Idea:

Stack physical and buy (Spot - 5%) puts on the same metal. If the price goes up, your stack being worth more fiat: be happy. If the price goes down, sell the put and buy physical at the new lower spot: be happy.
 
No physical at all Penn? MF Global didn't set off any warning bells?
 
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