Silver Did Its Job(s)

As subscribers know, I had a short position against 3x Long Silver fund USLV, initiated when silver hit our bounce target of 15.50.  It was there for hedging purposes and the bonus was a big drop today.  So unlike many hedges I have used in the past, it ended profitably; as in booked.

uslv silver bull fund

The position is covered and I wonder if today was related to the little blip in the Silver CoT last week.  It usually does not pay to micro manage the CoT, at least until it looks to be exhausting a trend, but still, it seems a few players were foreshadowing a drop and CoT can now go to the back burner again.

silver commitments of traders

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