I think it has become much clearer now that the trend direction for silver has changed and is moving upward now. I told you on Jun 16 that I thought silver was likely bottoming up and I started to add new positions via AGQ. I did put my money where my mouth was. Here is the current status of my AGQ. Given that it was still very uncertain at that time, I only started with relatively small positions. Initially it was a bit against me and I even wrote a follow up blog warning about a possible continuous severe correction. But it turned around and my AGQ positions are doing very well by now as you can see (68% & 31% increases in just a few weeks):
| | 30.50 | 1.00 | 3.39% | $280.00* | 1 | $18.00 | $1,234.99 | 68.04% | |
| | 12.70 | 0.00 | 0.00% | $-0.00 | -6 | $18.50 | $3,464.72 | 31.17% | |
I’m thinking to add more to it, hoping silver can come down a bit first to allow me to have a better entry point. Does that mean I’m sure silver will only go up and the risk of correction is totally gone? No such assurance whatsoever! The risk is always there and silver is always very volatile. Don’t forget, silver dropped by 60% in 2008 before resuming a fantastic upward movement. No one can say there is no such a possibility again. But the odds are much more in favor of its upward movement than downward, based on the current charting. I just saw the news that dollar-denominated Chinese silver futures began trading on the Hong Kong Mercantile Exchange early today (Jul 22). This is a game-changer and very bullish for silver as it will grant Asian investors direct access to the metal. I don't want to miss the trend and would like to take some risk to
ride the super trend. I'm in more!
If you cannot tolerate the potentially higher risk with AGQ, you can read my previous blogs on some less risky ways of investing in silver. There is also a great silver mining company at a good buy price level. Will discuss about it in a few days.
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