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 Replies: 5,643 / Views: 460,412 |
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Valued Member
United States
59 Posts |
Still sitting on my 500 ozs of silver. Ended up buying into companies that pay out dividends w/o any fees (DRIP) Johnson & Johnson for example. LONG term investment with the dividends being reinvested into company shares compounding the investment. Found a few ppl selling physical for $1 over spot. Eagles/maples may pick them up, not sure as of yet.
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Pillar of the Community
United States
1205 Posts |
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Pillar of the Community
United States
3546 Posts |
Quote:
WHAT a ride... At YTD +1,383.81% would this be considered a penny stock? Also, what would be the inherent risks with this stock? |
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Valued Member
United States
154 Posts |
MMM. YTD didn't show up on my CS site. Must not be available through them. Some nice profit for sure. Integra is considered a penny stock, has been going up. Drill tests have been very good. For me, this ones more of an investment than speculation since I'll be waiting. PAAS is up .20/share after hours. Monday going to be another good day.  |
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Pillar of the Community
United States
1205 Posts |
Silvercrest WAS a penny stock, last year, at 0.09/share. Not sure what you call it now, other than SWEET.
Risks? Mines are in China. Unsure how management has dealt with politics of that, I'm sure some of what happens, is "behind the scenes", and, is not going to be known. They do have a website for anybody to peruse.
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Pillar of the Community
United States
5845 Posts |
Silvercrest Avg Vol (10-day) 43.8K, is low compared to other mining stocks. But most of the mining stocks is in a uptrend. I'd be careful with penny stocks, but the PM is in a uptrend, so it is just driving it up!
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Pillar of the Community
United States
1205 Posts |
Yes, it does has low volume..HOW is has done so well is a bit beyond me. They are a First Majestic buyout..
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Pillar of the Community
United States
2764 Posts |
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Pillar of the Community
United States
5845 Posts |
Thanks SA4H!
ilikeikes,
I read it on the silvercrest homepage, probably is the reason that it changed. And if the finding is favorable, this one may take off also.
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Valued Member
United States
154 Posts |
Nice price action this morning. Been watching it all night starting in the Asian markets. Both gold and silver started out in the red, then after a couple hours was in the green. Silver has reached a new 52 high  and gold is very close at this point of reaching the $1371.80 it hit on 7/11 last month. I would say the march upwards is on in earnest.  |
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Pillar of the Community
 United States
3789 Posts |
@zach
the most important price point in gold right now that everyone should be looking at is if gold can break its yearly high, which happens if its breaks 1377.50, which was is the yearly high for now and was set on 7/6
for silver, it is breaking past 21.23, the current yearly high, set on 7/5.
That said, my experience has always been the BEST break outs of yearly highs happen happen, NOT after days and days of buying but rather a period of time of no buying, just flat range bound trade and THEN explosive buying right into the break out. Silver and gold are not in this pattern.
With silver and gold being up, what 6 days in a row so far, if they get into those yearly highs, its not the best optimal conditions but we will see. I have see traders try and sell short into this sort of pattern and normally it does fall but there is the odd time when the buying continues and stops out those short.
should be interesting. BTW, seasonality speaking, of which I really do not pay much attention too because price trumps all, but this months generally favors gold, silver, miners etc. Hat tip to some fellow traders on that note that was mentioned to me.
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Valued Member
United States
245 Posts |
A lot of folks are predicting gold to run up to $1400...and beyond. I'm reading it could hit an air bubble, whatever that is, and shoot to $1500 very briefly.
I'm glad I've got my 20k dollar position in these purdy coins...! Oh, silver looks good too!!
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Pillar of the Community
United States
606 Posts |
@yup,
Thanks for the post. As you know, I've enjoyed selling on peaks and buying lows during this bull market-- while always holding most of core position.
However, as you said, it weird right now because the retracement is on hold, which may illustrate the strength of the bull. On another site, there are a lot waiting to buy on the next drop as well. I wonder if this suggests the drops won't be as deep as some might expect.
I consider it a win/win. If I can't get back in, the core goes up. If I can, I've hopefully cut a peak/drop corner.
Finally, being my first investment, I'm stunned at this bull trend. I honestly was hoping for a 15-20% return and never expected anything like this. Everyone I know is like you invest in gold miners, ha ha ha. I, like how you loving th 2% you have made on the Dow?
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Pillar of the Community
United States
3789 Posts |
@MontanaCMR
this is why one must have a solid strategy and stick to it. Dip buying can work in an uptrend, however one must know what dip is the appropriate level to buy AND expect to wait around before you get a chance to buy it.
Trend following is very powerful. I can be WRONG 60% of the time and it does happen. HOWEVER, I can still make huge profits being right 40% of the time by following the trend and cutting the losers. The trend can be so powerful that it can even make up for those losses were I get stopped out.
Trends are one of the areas where good money can be made either selling short or buying. Trends are not about "bull" or "bear", those terms that I find useless and are nothing more hindrances to the emotional side of trading as it can easily entrap somemone's mind that they must always be "bullish" or "bearish" which again, is useless. All one should matter about is what is the trend and being right by the MARKET, not bull or bear.
One day this trend will die. One die silver, gold and mining stocks will start to roll over. One day there will be big money to be made by selling it short, that will be the trend.
The key thing to focus is not entirely what profits you are making but finding a trend, easing in to it, setting an exit in case the trend does roll over on you ( it can, it has, trends have rolled over on me as they started) and just observing price. How does it act? Can you add here? Is it getting stronger? Is it getting weaker.
Big money and limiting risk can be made in markets by finding trends and becoming a student of price action.
Trend following is all about finding a trend, legging into it
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Pillar of the Community
United States
3789 Posts |
take note.. as I mentioned earlier this AM, when you see an asset fading, or continuing to move to the LOD, well of its highs, those are the first signs of a reversal. Right now countless gold and silver miners are reversing, well off the HOD. Again, you should not be shocked by this, gold and silver need a rest, they are acting tired.
Following the reversal should be the next day follow through, in this case, a typical pattern would be a down day tomorrow. Keep in mind we are talking probabilities.
I have many different variations of these reversals. Sometimes we do get selling the next day. Sometimes the asset continues higher, despite a reversal. Sometimes it does sell off the next day but then by the third day, it is quickly bought up.
We cannot predict exactly what happens, which is FINE. Trading, investing is NOT about predicting, there are no predictions, what we do is work off probabilities and different scenarios that unfold. Trying to predict is a waste.
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Posted 07/30/2016 02:03 am
