Silver Is Tanking Today...

Just hit $11.80
Purchase 1000oz @ $11.20 = $11,200
Sell 250oz $11.75 =$2937.50 -$28 commission =$2909.50
Remaining holding 750oz @ $11.80 =$8850
Profit so far $8,850+2,909.50-11,200= $559.50

A very good day so far

Nohope587 your posts today have been by far more educational than most average collectors realize. Hopefully some new insights have been gained by those who see precious metals as coin collecting and not an investment or vise versa. Every one of us has to learn that all windows can be looked through on either side all the time, so to speak. Durning the last 2 years, after losing an outstanding job to down sizing, I have been forced to sell off a tremendous amount of my collection and not a day goes by that I do wish I had all that gold and silver back! None the less I still am in the game and enjoy what I do. Every time I purchase any coin, whether it be a classic, modern or bullion, I do it with the thought of LONG TERM but that does not keep me from changing my mind as the markets dictate. Like it or not most of us like making money so I/WE tend to have two different collections we are managing all the time whether we admit it or not. One of them is my hobby and the other could be an investment at any time and it is up to each and every one of us to determine when that time has arrived. Wish you nothing but the best in your endeavors and very glad to see there are those who are willing to win while the rest of the world is focused on a mindset of "losing". Looking for cycles is one thing, playing them is another! Good Job!

Nice profit!
I can never go into stock and investment.

Too risky..
One day you may have it all....next day your'e over.

TheKid!

Though some people know how to gamble at this.

I think people are selling metals to cover margin calls in the stock market.

Central banks have been pouring money into world markets, basically bailing out the dolts who believed "ideas in the pipe-line" and mathematical models can replace real production of real things that people really want. If we lived in a world where real capitalism existed the dolts would get buried and forgotten after the first can of beer. And the criminals that sold them the "ideas" would go to prison. I kind a like China's policy on investment corruption. They take their criminals out in the back yard and shoot them.

But today's "capitalism" is just another facade. And IMO, the more they pump money in to prop it all up the easier it's going to be for even the dullest of the dolts to see they've been riding on a bubble.

IMO, wallstreet's glory days are coming to close. I thought it was over in 2000 but then the criminals at the federal reserved saved the criminals on wallstreet by pumping it all back up.

I'm not worried about the price of silver. Or inflation or deflation. Because: A) If you don't have real money to begin with inflation and deflation lead to each other. You'll get whichever your waiting for sooner or later. B) IMO, it's the social upheaval that follows this mess that will drive up the price of metals.

When it all hits the fan watch for the politicians, the fed, wallstreet regulators, rating agencies, "research" firms and every other criminal responsible for this mess to come out talking like Louie from Casablanca: "I'm shocked, shocked, to find gambling going on."

Of course the fallout from sub-prime and hedge funds blowing up won't really amount to anything. Just ask the fed's very own Baghdad Ben.

I'm sure nohope has experience at this, but for anyone else who might be tempted, that kind of options trading is only for people who really know what they're doing. And I'm pretty sure you pay short term capital gains tax on your profits.

please everyone take note of what chasinva69 said.
playing the silver market short term is a very dangerous game there are profits to be made but you could just as easily loose your shirt. It takes a lot of research to stack the odds in your favor and believe me opportunities like todays are very few and far between.

quote:

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Nice profit!
I can never go into stock and investment.

Too risky..
One day you may have it all....next day your'e over.

TheKid!

Though some people know how to gamble at this.

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Not necessarily. The younger you are the more aggressive you can be in the stock market. If you make a wrong move, you have 20-30 years to wait and let your stock grow and mature. When your like 50-60 years old, it's more of a risk. You can invest all your money wrongly and take a big hit, then die before the stock ever rises above your initial amount invested. At age 15 you would be pretty well off investing in pretty much any stock available. Well... Kinda...

Playing any sort of market in the short term is risky. In general, short term plays are speculating, not investing. You can minimize your risk through knowledge, but there ain't no guarantees. I speculate occasionally, but I don't use the mortgage money to do it.