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
x
Wednesday, August 11, 2010
Bookkeeping: Closing Ultra Silver (AGQ)
Posted by
Mark
at
11:56 AM
Bookkeeping: Closing Ultra Silver (AGQ)
2010-08-11T11:56:00-04:00
Mark
Ultra Silver|
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Labels: Ultra Silver
Bookkeeping: Closing Ultra Silver (AGQ)
2010-08-11T11:56:00-04:00
Mark
Ultra Silver|
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