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« TWENTY OZS OF ENDEAVOUR SILVER TO BE WON | Main | Bob Quartermain: The Constraints on Silver Supply »

The Accumulator Trade 2 Update 15 March 2011

slw logo.JPG

On March 8th, 2011 we purchased a tranche of Call Options in Silver Wheaton Corporation (SLW) to open trade 2 of The Accumulator. They are as follows:

100 contracts, June 2011, Call Options, strike price of $50.00 for $3.05 for a cost of $30,500.00 and 100 contracts, June 2011, Call Options, strike price of $55.00 for $1.84 for a cost of $18,400.00.

Since then the world has been turned on its head with the dreadful earthquake in Japan coming soon after the one in Christchurch, New Zealand, not to mention the troubles in the Middle East.

Silver prices are now starting their transition phase from being volatile to becoming outright violent as they can oscillate by more than a dollar in any given session. It wasn't that long ago that silver could be bought for four bucks an ounce and it wont be long before it moves that much in a day.

This type of environment is here to stay, get used to it, as you are going to be waking up and saying just what the heck happened last night. The chances are not a lot, a rumour here, a threat there, some political posturing and a bunch of new promises, oh yes we can, etc.

Anyway, we are still holding onto our position and have sold nothing despite the lack of progress as silver moved sideways until today when it took a real hit on the Asian Stock Exchanges, dropping by more than a dollar at one point.

Nothing much else to add other than to give you a heads up that we are going to run a competition shortly that will provide the winner with a rather nice prize, so please stay in touch.


Many thanks to those of you who have recently signed up for options trading service, its very much appreciated. We are also finalizing our new pricing structure which we will publish shortly, however, if you are already a subscriber then we will do our best to hold your subscriptions as is, the new prices will only apply to the new members.

Our model portfolio is up 138.05% since inception, Average return of 41.27% per trade, 67 closed trades, 65 closed at a profit or a 97% success rate. Average trade open for 43.21 days.

SK model portfolio 14 March 2011.JPG

The above progress chart is being updated constantly. However, to see exactly how it is going, please click this link.

So, the question is: Are you going to make the decision to join us today, before we decide to cap membership.

Stay on your toes and have a good one.

Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. (Winners of the GoldDrivers Stock Picking Competition 2007)

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here.

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Reader Comments (8)

Excellent drop in silver today, in a few weeks we are going to see 1000 gold and 20 buck silver.

March 15, 2011 | Unregistered CommenterDi

I think we'll see an announcement for QE3 soon.

March 15, 2011 | Unregistered CommenterBee Thousand

You've been saying that for three years now Di..and missed one of the greatest runs ever in Silver and Gold. Don't get it...

March 15, 2011 | Unregistered Commentergary

Any thoughts of averaging down here at all?? Buy on weakness?

March 15, 2011 | Unregistered CommenterBrad


Yes we are thinking about averaging down, its a question of timing, the reaction to the situation in Japan is a hard one to predict. However, the haze will clear and we will let you know if we decide to jump in or out of this position.

March 15, 2011 | Unregistered CommenterSilver Prices

Christchurch, New Zealand. My special friend Barbara Goldsmith. She told me to stay out of the market period, and just hold physical silver. You know that I have to buy shares of Silver Wheat, Pan American Silver.

March 16, 2011 | Unregistered CommenterJerrold Minyard

Saw this today and thought of Di immediately...

"Loads of knowing goofs will begin spouting gleefully that the "bubble" in silver and gold has burst, they were right from the beginning not to buy, and other like drooling drivel. Ignore it all. Why should you listen to anyone who cannot tell a bubble from a bull market? Only reason I can think of is that you want to lose money like they will...."
- Franklin Sanders

March 17, 2011 | Unregistered CommenterBrad

BULL MARKET, here here!!!!!!!!

March 17, 2011 | Unregistered CommenterJerrold Minyard

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