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 Replies: 80 / Views: 6,608 |
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Pillar of the Community
United States
958 Posts |
Yes I figured 30 would be a profit taking time for some.
I sold some junk silver for 21x face last week ( around 30 a ounce ), so I could buy some Isilver.
My predection is silver will get to $40 then profit taking agian .
then $50 more profit taking then teter-totter awhile then drop fast like a rock
That why I convererted to Isilver so I can push the button and not get cuaght up trying to " unload " silver bullion.
Sure it was not alot only 20 ounces total I bought online but . Imagine trying to dump 20oz in silver to any local buyers as its plumitting . I doubt you could find a buyer fast enough and get close to spot as it falls.
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Pillar of the Community
United States
4989 Posts |
I bought puts on SLV (a leveraged bet that silver will go down) this morning. So far so good. Up about $98.
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Pillar of the Community
United States
958 Posts |
smart move fenton, id do it agian at 40$ and at 50$
if it gets that high , short term when is your call fenton ?
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Pillar of the Community
United States
4989 Posts |
$30 is a key resistance point (psychological) for silver. If it can't break through on sheer momentum, it's going to fall hard. Definitely hit a brick wall today we'll see what tomorrow brings.
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Bedrock of the Community
United States
19963 Posts |
Quote:
bought puts on SLV (a leveraged bet that silver will go down) this morning. So far so good. Up about $98.
Didn't know you were a trader! Stop by and say hello: http://www.stockmarketcats.com |
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Pillar of the Community
United States
1285 Posts |
It's prudent to be hedged and I have been long of and short of silver since it went above 24 (both sides). There is a lot of support in the 26 and the 21 to 24 area. This whole area we are in is going to be bumpy and has been fueled by a lot of "short covering". So to circle back silver can pull back to the mid 20's and still keep the "upward" trend "intact" and expect $1 to $2 moves on a regular basis. There also could be a short term "double top" in here and we will never know until "after" the fact. Dyodd and do what you are "comfortable" with.  |
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Bedrock of the Community
United States
19963 Posts |
Come visit us Cats too Ceylon! :)
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Pillar of the Community
United States
4989 Posts |
Cool still moving up I'm basically doing the equivalent of short selling about 200 ounces of silver.
+$170 or so right now getting tempted to cash out and go buy a nice CC dollar with the proceeds. I tend to agree we'll hit resistance in the $22-$24 and then possibly rebound.
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Pillar of the Community
United States
4989 Posts |
Thanks for the link BadThad looks like a pretty cool site is it fairly heavily moderated? Those stock forums are often awash in spam.
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Pillar of the Community
United States
759 Posts |
Some really interesting viewpoints here about silver prices. Notice how about the only thing people think the price is NOT going to do is stay around where it is. And thus markets are made, I guess. Now I have to look at a long straddle approach.
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Pillar of the Community
United States
3592 Posts |
I think everybody is overanalyzing....keep it simple...buy low, sell high  |
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Bedrock of the Community
United States
19963 Posts |
Quote:
Thanks for the link BadThad looks like a pretty cool site is it fairly heavily moderated? Those stock forums are often awash in spam.
Yes, HEAVILY MODERATED....I'm a mod there.  ZERO spam on our forum! Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
958 Posts |
Silver will have its ups and downs but mainly up untill the end of the world 2012 sell off.
people need cash to cash in before the end of the world becuase in the after life they dont take bullion
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Pillar of the Community
United States
3592 Posts |
I forgot about the end of the world 2012....hope that pans out better than Y2K |
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Pillar of the Community
United States
757 Posts |
uh, maine don't you mean that you hope it pans out the same as Y2k? heh.
i think people will start getting a little nutty around that time though too, and markets might be pretty interesting.
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Replies: 80 / Views: 6,608 |
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Posted 12/07/2010 8:28 pm
