SK OptionTrader Passes Another Milestone: 120 Trades Closed

2013 has been a year of milestones for SK OptionTrader thus far. We have closed our largest winning trade to date, a winner of 212.50%. We have closed over 100 winning trades, and have made over a 500% return since the beginning of our service. With our latest trade we are celebrating the milestone of having closed 120 trades closed.

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SK OptionTrader Portfolio Breaking Record High Returns of 506%

SK OptionTrader recently closed a trade on Silver Wheaton; using puts to take advantage of the plummeting stock price.  This particular trade pushed our overall returns since inception to a total 506%! These returns have been generated over the 3 years and 8 months that our service has been operational. This means that if one had invested $10,000 in 2009 and followed our signals, this would now have been worth approximately $60,599.55.

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Countries Preparing For Bail-Ins

Jim Sinclair The following is a missive that we received from Jim Sinclair who is the host of a web site called Jim Sinclair's MineSet. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them. Here we go:  QE to Infinity, followed by Gold balancing the balance sheets of the sovereign balance sheet disasters. Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold. It is just that simple. --Jim Sinclair

My Dear Extended Family,   Hi Jim, Why does everyone seem to think that Canada, Cyprus and New Zealand are the only countries preparing for bail-ins?

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29.41% Profit in 17 Days for Our Subscribers As SLW Plummets

SK Options Trading has recognised the changing market dynamics in the precious metals markets, and as a result we have been consistently banking profits this year. As familiar readers will be aware we have been unafraid to state our view that the bull market may be over, and now we have profited again. This time we used puts on Silver Wheaton to bank a quick 29.41% in 17 days.

We believed that Silver Wheaton would be vulnerable to a price drop, given that it is effectively leveraged to silver, and silver can be more volatile than gold in times of significant movement. As of April 8^th, silver is down 4% more than gold, and during the period that we held this trade silver fell 12% more than gold. Therefore we believed Silver Wheaton fall considerably more than gold if the downward trend continued.

To take advantage of this we signalled “to buy the SLW Sep 21 '13 $25 put at $0.85”, to our subscribers.

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80% Chance Of 40% Silver Short Squeeze

Chart from Bloomberg 

In the last 20 years, Silver shorts (in Silver futures, based on the Commitment of Traders data) has only been as high as it is currently for five periods. Four of those five periods were followed by considerable rallies in silver prices. The one period where prices flatlined (fell modestly) was a slow and steady rise in shorts (as opposed to the spike-like move currently). Of course,

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15.88% Profits Banked as SK OptionTrader Wins Again

SK Option Trader continues its winning streak in 2013; closing our sixth consecutive winning trade. This time we profited from the poor performance of mining stocks with a vertical call spread on GDX.

We have long been of the belief that gold mining stocks are one of the worst performing stock sectors; this has been most evident in recent times when mining stocks have underperformed gold and have failed to rally despite equities hitting all time highs.

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2013 U.S. silver bullion coin sales may shatter records if trend holds

A silver Gulden from The Netherlands

In this mornings mail bag we this update on sales of silver coins from the team over at the cmi group it originated over at MINEWEB, you might like to add both of these websites to your list of resources. 

If American Eagle silver bullion coin sales continue to hold, total sales this year could shatter the previous record of nearly 40 million coins sold in 2011.

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A Bad Day for Silver and the Mining Sector

  

The above table depicts just what a hard time silver producers had today. Most stocks were hammered as investors appeared to prefer the safety of the dollar.

The chart below shows silver prices

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System Designed To Collapse Ahead Of New World Currency

Jim Sinclair The following is a missive that we received from Jim Sinclair who is the host of a web site called Jim Sinclair's MineSet. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them. Here we go:  "Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. "Stand and Deliver or Go Home" should be the rallying cry of the gold longs to the paper gold shorts." --Trader Dan Norcini QE to Infinity,

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Gold Vulnerable Ahead of Payrolls and FOMC

We expected that the Cypriot fiasco would have little effect for gold and silver, but many gold bugs have given the crisis in Cyprus a great deal of attention; despite this attention the metals market has failed to rally out of its recent downward trend.

The absence of a rally in the underlying precious metals has resulted in mining stocks remaining relatively flat over the last few weeks, backing up our argument that one should not buy gold stocks to take advantage of the Cyprus fiasco. Last week we wrote about this at length, showing how improbable a rise in gold stocks as a result of the events in Cyprus was.

Many gold bulls believe that the events in Cyprus would lead to a great increase in demand for gold as a safe haven asset. This increase in demand would therefore push gold up out if its downward trend.

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