Howdy folks! Well, I've posted twice now. As I've stated before, I invested at $15, let it rise to $49. Then it dropped, and I decided to try to short silver. I tried selling at $37....but after fees, I only got $35 an ounce. And here we are, mid May, and it's hovering around $35. If I purchase now, I have to buy at $3 over spot. And I lose roughly $450. I break even if I buy at $32. So that's what I've been waiting on. In the meanwhile, I've been trying to figure out how to make a quick gain of at least 10% in the next few weeks. A stock or anything. Something to cover my loss. I still think silver will get to $80. Anyone know any good stocks?
The best one that I can think of is to buy shares in the English business that charges Christians 60 pounds to guarantee that after the Rapture, someone will go 'round to their house and feed their pets. I assume that their business is booming this next 2 weeks.
LaramieHirsch next time you try and short silver perhaps do it via an ETF. Not much point holding physical for short term trades. In terms of a stock recommendation to recoup your lost $$$ why dont you try some of the US silver miners, they seem to do quite well when ag is up.
Is this an actual loss or just a paper loss? I tried to reread your original post and it seems you bought @$15, sold @$35 hoping to buy back in @$32, is that right? In other words you haven't lost anything except ounces?
You sound like a degen gambler he he Just forget about the loss. Take it as a lesson learnt, not worth stressing yourself over 10%/few hundred bucks, silver can go up that fast in a couple days.
