Wednesday, August 11, 2010

Bookkeeping: Closing Ultra Silver (AGQ)

I am closing Ultra Silver (AGQ) because it's my 3rd oldest holding and it's time to refresh.  It has done little to nothing for months on end other than ping pong in a range as risk is "on" or "off" for that day/week/month.   Lately I've added some commodity names which act more or less identical to silver... if risk is "off" for a meaningful amount of time they will be punted as well, but for now HAL9000 treats them all more or less the same so there is quite a bit of overlap.

If people come to the conclusion that the party in China is over, this whole commodity complex is cooked since there is no growth in the Big 3 (Europe, US, Japan).  Silver has the precious metal aspect to it as well, but even gold is not doing much here.

I am selling the last 0.7% allocation, a position I have not touched much since early June.... it's more or less the exact same spot as it was then.

No position


Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012