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 Replies: 30 / Views: 2,893 |
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Pillar of the Community
1283 Posts |
That's funny Ed I also bought 1000 shares of Apple back in the lat 90's at around $10 per share, but had to sell when it dropped to under $5 to cover the Margin call. I kick myself because I didn't think of the iPod, lol.
On a positive side note I still own the 9.73 shares they didn't force me to sell.
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Pillar of the Community
United States
830 Posts |
Huge bummer kid, that would be worth what? About 1/2 of million now?
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Pillar of the Community
United States
919 Posts |
The good news is that is down from over $700,000 a few months back.
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Valued Member
United States
344 Posts |
I know what you mean.
Silver's down $1.03 today. Guess what I bought yesterday?
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Pillar of the Community
United States
2335 Posts |
I'm amazed it's dropping. My purchases & sales are generally a pretty good indicator of where spot will go, & I sold over 110 ounces Friday.
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Valued Member
United States
148 Posts |
Quote:
I know what you mean.
Silver's down $1.03 today. Guess what I bought yesterday?
 A pack of bubble gum? |
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Pillar of the Community
United States
919 Posts |
I always wondered why the LCS dealer smiles when I buy. It's because he knows he can replace what I bought a day or two later at a lower price. Down over $1.30 at one point today. That's more then a pack of gum if you consider I bought over 35 oz Wednesday. More like one ASE. Oh well still more fun then stocks. |
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Pillar of the Community
United States
3789 Posts |
Well... thats gotta be painful to buy a monster box and see it drop like that in price. I am sorry that happened to you.
However, I think, if you are patient and sit on that box you will get your money back and then some.
I remember I believe it was in 04, US Silver Eagle monsters if memory serves me right, going for 5,000+ now they are going for what, 18,000+.
The other thing would be to avoid buying silver when the prices are rising UNLESS they are making new yearly highs, as then the market is confirming a new upward trend.
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Bedrock of the Community
13014 Posts |
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The other thing would be to avoid buying silver when the prices are rising UNLESS they are making new yearly highs, as then the market is confirming a new upward trend.
Id still stay away the new high price spikes dont last long. Look at what happened every time its gotten into the 40s |
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Pillar of the Community
Canada
1723 Posts |
Agreed! With baseball....when things are shooting right up...its time to sell.
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Pillar of the Community
United States
3789 Posts |
Well I disagree again but then again I trade these things. so let me be more specific-
using as a proxy to keep it simple, the silver ETF SLV. my trading experience, I would be be looking to purchase a line in SLV at the 52 high if it broke above that, along with a stop of some sort in place already should the price roll over.... There is absolutely nothing wrong in this type of trade.... and again if it rolled back against me there would be a stop that would kick in. clearly I would NOT be putting all my money there nor would I be stuck holding the bag.
Does it get tricky holding physical? yes for sure, futures and equities are better for me,, personally.
that said. again, I dont think buying that huge monster box was bad. hold on to it and there will be some wealthy investor looking for a box for that specific year, of that iam sure.
all of that said, IMHO, I think its BEST to buy metals when a- they are being dumped left and right (mind u, NOT going all in but nibbling here and there because what is cheap can become cheaper) and I like to buy them when they are trending higher... such as I described above.
and of course, one has to do what they think is best with their money. I can only speak for what has worked for me in the past :)
and as I have observed from many individuals that collect the physical silver and gold... over the long haul they arent bad investments to own.
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Bedrock of the Community
13014 Posts |
Well your talking about two entirely different things. If you buy paper silver at a new high yes theres little risk as you can just put stops and worse case your out 20 bucks for the two trades. Physical silver however is an entirely different story. If you buy at 50 your going to be caught with your pants around your ankles as buyers are few and far between at that price especially if it starts to roll back. Most of the people who bought at 50 were probably lucky if they were able to even unload it before it got back into the 30s or have been stuck with it for who knows how long hoping to get their money back. Add in ebay fees or the below spot price a shop buys for and your going to be looking at losses greater than 10 dollars an ounce |
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Valued Member
United States
344 Posts |
I dollar cost average, so in the long run it's all good. But I can't help but chuckle and shake my head on days like today.
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Pillar of the Community
Canada
1723 Posts |
Quote:Well your talking about two entirely different things. If you buy paper silver at a new high yes there is little risk as you can just put stops and worse case your out 20 bucks for the two trades. Physical silver however is an entirely different story. If you buy at 50 your going to be caught with your pants around your ankles as buyers are few and far between at that price especially if it starts to roll back. Most of the people who bought at 50 were probably lucky if they were able to even unload it before it got back into the 30s or have been stuck with it for who knows how long hoping to get their money back. Add in ebay fees or the below spot price a shop buys for and your going to be looking at losses greater than 10 dollars an ounce Oh ya etf sure I would agree with you. Physical.....exactly what ed said. At $50...heck even $45 you have to be cautious. All those people that did buy at $50 the first time around and managed to hold will be dumping as well as all the profit takers. There is a very high probability, IMO, that at that point there will be a smack down again. When it gets to that point, I will likely sell off half my stack and wait for that dip. I wont be a buyer above $40 ish until that new high is broken and sustained. That area are for the paper traders and the big boys to play while us physical holders sit back and see how the game plays out. Above $40 and trending higher is just not a safe place to hang out. JMO.  Edited by samsnate
12/13/2012 9:57 pm
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Pillar of the Community
United States
4008 Posts |
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That's funny Ed I also bought 1000 shares of Apple back in the lat 90's at around $10 per share... Yep, quite a few people probably did the same thing. I also did that with Sun MicroSystems... bought it at $5 a share and sold for $20 a share. Good percentage profit there but then the darned thing went on to $105 a share before falling back to under $5 a share. If only I'd known about trailing stops back then!  |
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Replies: 30 / Views: 2,893 |
First Page
Posted 12/13/2012 10:36 am
