FXEmpire | October 31 2012 11:33 EDT
Silver rose during the session on Wednesday as the $32 level continues to offer support. We are overall bullish of this market as you know, and are “perpetually long” of it. We always have physical silver that we are keeping on hand, as well as a position in the SLV ETF in order to take advantage of the overall “super trend.” However, this doesn’t mean that we are always involved in the futures market.
We certainly use futures as a way to increase our gains over time, not necessarily be the core of the position. With that being said, we are flat of the futures market right now, but would be willing to go long if we got above the $33.00 level. As for selling is concerned, we see far too many support levels below in order to even consider it.
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Originally posted here