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5.11.26 - Silver continues exploding higher
5.11.26 - Silver continues exploding higher
Gold last traded at $4,734 an ounce. Silver at $85.94 an ounce.
Silver Leaving Even SOX Behind -ZeroHedge
Nobody Owns Enough Silver
Silver continues behaving exactly like a market where upside convexity was massively underpriced. What initially looked like a quiet breakout has now started turning into a much more aggressive squeeze, with price, momentum, and volatility all accelerating at the same time.
The interesting part is that positioning still does not look remotely euphoric. Money managers remain relatively underexposed, CTA positioning still has room to expand aggressively, and upside option demand is starting to accelerate again as momentum keeps building.
Super silver
Silver continues exploding higher. On May 6 we argued silver was quietly setting up for another major breakout as positioning stayed light and momentum chasers remained absent.
Silver is up around 17% since then. We are well above the massive triangle formation as well as the 50 day. Note the 21 day is crossing the 50 day today.
