Going Back into Silver

[GhostRider808]

Such a smart move!  I'm still locked in at when it's about $50 :(

Yeah, no worries about Silver.  When's your expiry? 

[dobedo]

Yeah, no worries about Silver.  When's your expiry? 

Oh, I don't do options.  I bought SLV when silver is close to $50, so it'll "expire" whenever I sell, I guess.

[tamo42]

Calls are up about 30% on this recent pop.

[tamo42]

Cashed in 2/3 of my calls, free-riding the rest.

[GhostRider808]

Oh, I don't do options.  I bought SLV when silver is close to $50, so it'll "expire" whenever I sell, I guess.

Yeah, that's probably a safer bet.  I read most people lose money on options not unless your Tamo42 that is =).  However, with the S&P, DOW, & structural problems where it is...puts are starting to look really good!  Too bad I have most of my money in bullion and Chinese coins.  I kinda of feel like buying more silver bullion though as the near term it looks more attractive for bullion and long term Chinese Coins, hrmmm...

[tamo42]

Hah, I lose money sometimes. I just try to make it as rare an event as possible ;).

[badon]

I read most people lose money on options not unless your Tamo42 that is =). 

Tamo42 is the kind of person that could master pretty much anything. It's pretty impressive to watch, and even more fun to follow for free extra $$$ :)

[dobedo]

Yes, Tamo's rumors are all first rate, We welcome more of them!

[tamo42]

Closed out my position. I should have done it the other day, but oh well. Netted out 36% over the trade.

I think we'll see a short dip over the next few days as gold consolidates. The Jackson Hole meeting is this week and GDP numbers are due out Friday, so Thurs-Fri might be very volatile!

[tamo42]

Like I've said when the hard correction took hold after silver hit $50, when you hear everyone talking about how silver is over and that it was just a bubble, that will be the time to get in.

No matter what, silver is a volatile market. It always has been, and it probably always will be. Plan accordingly.

I find myself wondering if the current drop in precious metals (from margin calls on other assets most likely) will create the "silver is dead" moment I've been waiting for.