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 Replies: 30 / Views: 2,742 |
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Pillar of the Community
United States
4989 Posts |
Calls expire NOV 19'th. Already lost $270 rough morning silver now off 15% have a couple months for it to bounce back...
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Pillar of the Community
United States
3294 Posts |
Don't feel bad. I got some stock right before this started and that is down $1000 in the last week. I don't see a need to sell it any time in the next 10 years so I am not worried about that, or about my few rolls of silver. In fact, if the trend continues as it has today, I will probably be paying the coin shop a visit tomorrow.
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Valued Member
United States
228 Posts |
fenton:
I would sell those calls! Silver is thoroughly treacherous market, and next major support is at about $27. I don't know what kinds of lossed a $27 silver print, would give you (nor do I know your tolerance for financial loss), but I would definitely take my losses today on this one.
See my new post I just put a few minutes ago! You've got a tiger by the tail! You are right (long term silver must go up), but short term you could just clobbered by a leveraged bet!
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Pillar of the Community
United States
4989 Posts |
My experience is that short-term emotional sell-offs tend to be followed by equally fervent buy-ins. All it would take is one economic indicator showing inflation to send gold and silver soaring back to new highs (or any major move by the EU to pump liquidity into their system).
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Pillar of the Community
United States
2589 Posts |
Quote:
or any major move by the EU to pump liquidity into their system At this point thats a virtual certainty, just a manner of when rather than if. |
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Pillar of the Community
United States
931 Posts |
My dealer will still be holding at $43 or so on Eagles. He is the classic " spot + on the way up and firm at cost on the way down." I can't blame him because there are not a lot of PM people around here. Most of them have their money in the mattress or up their nose.
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Pillar of the Community
United States
648 Posts |
I would buy a monster box.
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New Member
United States
13 Posts |
i have been buying alot of silver in the last 2 months. I found an older gentleman who was selling me both new and old silver coins at $27/oz approx. I was never really into coins, and have alot of money tied up in sports memorabilia (the good vintage stuff). I was just wondering if I made a smart move buying in at $27 these past 2 months with the current drop. I'm hoping its followed by a steep correction the other way early next week. we shall see. my rule of thumb has been buy under $30/oz but then again I never anticipated a near 25% drop in price/oz.
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Rest in Peace
United States
5375 Posts |
Wow, just as I bought a lot of 404 silver quarters...nice. That's brutal.
However, its not so bad. I didn't buy it for the bullion value or an 'investment'. This guy is a notorious undergrader and I figured I could pick through the lot and cut a pretty high profit then dump the bullion coins at a dealer. I'm going to have to wait to dump the bullion though now.
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Rest in Peace
United States
9104 Posts |
 , jfunk! |
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Valued Member
United States
362 Posts |
doesn't the government have a 28% tax on any gains when you sell GLD or SLV?
I have a roth IRA I was thinking about buying some SLV though
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Pillar of the Community
1283 Posts |
I bought a 100 more eagles Friday hoping for it to get down to $27 Tomorrow so my bother and I can go halves on another monster box. My suppler said there is a slight delay but he said he could do it for $16.5k as of Friday. If It drops again on Monday and I can get one for $16k I will own another one of those big green bad boys. I need to average down though I'm sitting on over 1000 oz with an ave of $37. I would like to get that ave in the low 30's
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Pillar of the Community
United States
4008 Posts |
Sounds like a pretty good plan, TBK. Good luck with that. I think that it can work well and be a good longer term move. I also bought more silver recently... 200 oz., half and half in 5-oz. bars and ASEs. Will make a nice addition to the silver bullion I already have.  No monster boxes for me, though. They are nice and all that but I prefer to buy in smaller increments over time. Either can work so we just have to go with what appeals to us. |
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Pillar of the Community
United States
3670 Posts |
If I can ever afford a monster box, I will FINALLY BE IN POSITION TO CONQUER THE WORLD! Um, sorry a little Pinky and the Brain coming back to the surface there....
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Pillar of the Community
United States
4008 Posts |
No problem, Hawk... press on!  |
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Replies: 30 / Views: 2,742 |
First Page
Posted 09/23/2011 2:58 pm
