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Author Topic: Going Back into Silver  (Read 2754 times)
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tamo42
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« on: 2011 May 25, 10:41:35 pm »



I opened a long silver position today for the first time in several weeks. From a technical perspective, it looks like a moderate base has formed.

The other day silver popped higher on news that the English were investigating JPM because of their role as both huge market maker as well as warehouser. The Brits seem to think this may be a conflict of interest, especially since JPM has such a huge potential to influence the small silver market. Silver has been up the past two sessions. Also the dollar has been weak the past few days on worries with the debt ceiling and developments in Europe.

So I opened a speculative long position with some ~.60 delta calls. I'm just talking about what I did, not a recommendation to anyone. I'm not terribly confident on how long this rise will last, but the lows in inventory numbers as well as speculative longs suggests there's a bit of room to run. My guess is to 41.

Here's a chart: http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&b=5&g=0&id=p40616853038

Happy trading!
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Neal McSpadden
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« Reply #1 on: 2011 May 26, 09:41:50 am »

I had a similar thought as you, but I did my entry into gold instead. On my forex account, I bought 99oz and am currently losing on it. I have some space below that I can tolerate, but hoping I don't have to tolerate it. Like you, it is what I did and not a recommendation.
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dobedo
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« Reply #2 on: 2011 May 26, 01:01:31 pm »

Last time I went long on silver, I lost close to 30% in a few days. This time I'm going to wait longer to go long. How long do you think I should wait to go long again?
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tamo42
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« Reply #3 on: 2011 May 26, 01:31:01 pm »

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.
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Neal McSpadden
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badon
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« Reply #4 on: 2011 May 26, 01:37:40 pm »

I agree. Waiting is not the right choice.
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« Reply #5 on: 2011 May 26, 04:38:04 pm »

Last time I went long on silver, I lost close to 30% in a few days. This time I'm going to wait longer to go long. How long do you think I should wait to go long again?

You can never consistently time tops and bottoms of markets. Dollar-cost averaging in and out is the best strategy IMO.
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badon
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« Reply #6 on: 2011 May 26, 07:07:37 pm »

I can:

http://www.livebusinesschat.com/smf/index.php?topic=1704.0
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If families are a problem for the system, then we must reject the system, not the families.
Founder of the Coin Compendium (forum, blogs, calendar, images, donate, contribute).
LBC makes you rich, with a free ebay gift certificate awarded every month!
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« Reply #7 on: 2011 May 26, 08:22:31 pm »


lol well, i am talking about normal people Smiley
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badon
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« Reply #8 on: 2011 May 26, 09:51:07 pm »

Haha, I always get left out Smiley
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badon
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« Reply #9 on: 2011 May 28, 12:21:45 pm »

Just thought you'd like to know: On the day this was posted (this was the only thing posted), LBC finally topped 300 visits in one day. But, we didn't just top 300, we blew right past it with 328 visits for May 25th. Our highest ever, prior to that was 299 on February 28th. Before that, it was 297 on January 25th, and 286 on November 13th 2010.

So, we seem to have been plateauing at just under 300 for many months, after a big run upward that took LBC from being a podunk-nothing site for 7 years straight, to being pretty active quite suddenly. It will be interesting to see if we are able to break through that 300 visits plateau to make it a routine thing, with resumed growth.
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If families are a problem for the system, then we must reject the system, not the families.
Founder of the Coin Compendium (forum, blogs, calendar, images, donate, contribute).
LBC makes you rich, with a free ebay gift certificate awarded every month!
The Coin Compendium and the china-mint.info forum, censure, disclosure.
Do not PM questions. Answers should be publicly available.
Backup is not enough. Protect your data with MultiPar.
Writer of LBC Chinese coin investment articles (list).
About me: User:Badon - MediaWiki.org
Badon effect: type 1 to 8, type 9.
I type faster on a TypeMatrix.
Use my work. Give credit.
Coin, medal, whatever!
Coin storage advice.
FreeArc is amazing.
User contributions for Badon - Coin Compendium
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