PORTFOLIO UPDATE

Posted By admin on Nov 7, 2011 | 0 comments

I added a long position in silver to the party today. During the last half hour of trading today I tweeted the following:

Medium sized position. Wouldn't mind making it a large position if it acts well.

I discussed silver in the chart review over the weekend here http://www.zenpenny.com/wp-content/uploads/2011/11/SLV.gif

The strength we are seeing in gold is very real. I'll be the first to admit that I didn't expect to see the metals perk up so quickly following their bombardment in August and September. The fact that gold has rebounded so fervently is a positive that should not be ignored. The pullback may have been much less destructive than most initially thought.

Given the scope of the nightmare in Europe and the liquidity parade that will be unleashed as a result, you can bet that the bullish case for gold will be marched around the block until investors become dizzy.

Silver should be a beneficiary on the periphery of the bull run in gold.

Now holding AGQ, TNA and TQQQ.