Gave in to temptation. Silver futs obviously up but what’a more interesting is the basis (Mar delivery minus May delivery) is positive — for the last thirty years it has been between -0.2 and 0 except for a couple of periods of stress in the physical silver mkt.
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I know you love charts so here is a chart. Okay stopping with the discretionary calls now, back to letting the beep boops trade for me.pic.twitter.com/TloUhAevZX
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Fair point! My reasoning is that there is no particular fundamental reason for silver to trade lower (or at any price really) but there is a fundamental reason (interest rates) for the spread to go negative.
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