Inability to control greed and inability to change ones mind are killers in this business. I was expecting a ballistic phase in silver. I was expecting it to occur ahead of the elections. That certainly didn't happen. It could still happen but now it's going to have to happen after the election if it's going to materialize.
We've been heavily leveraged since Sept. 10 in SLV call options. Depending on what strike people bought most are up 70-100% or more on that trade. Any sane person would be ecstatic with that kind of profit over that short of time. But most people aren't rational.
If you have your heart set on buying an island and you have to "settle" for a Lamborghini it's just not good enough for some people. It never ceases to amaze me how some people can find a way to rationalize an insanely profitable trade into a failure if it comes up short of their expectations.
Let me stress again the ballistic phase isn't off the table but now it will be dependant on the election outcome and market reaction to that outcome
