The symbol ZSL is a double-inverse fund based on silver. It’s fascinating to see how the volume on this went absolutely ape this week.
Of course, this is a rare counter-trend bounce considering that, over a longer period, ZSL has followed the gorgeous arc of a tennis ball hurled off the Empire State Building.
But it all makes sense, because silver’s madcap explosion this week, reaching nearly $120, is swiftly unwinding.
As I mentioned a few days ago, I sold a bunch of my silver bullion at my local dealer since I thought prices were unhinged. Yesterday, I took one last handful of junk silver coin rolls into to dump, and they said, nope, they were so busy they had to catch up and weren’t buying anything else. I guess that makes sense, too.
