This us amazing stuff. The comex would be closed anyway at this hour, things are moving very very fast in not much news, fascinating to watch...
Little do you all know that leon not only doubled down -- but *tripled* down on his short.. Right at the very top of that spike, mind you.. Then immediately covered for YUUUUGE profit right at the low of the subsequent over-correction. Someday y'all are going to be paying big bucks in order to attend leon's expert trading seminars -- if you can even get on the waiting list, that is..
Never made a "egg" call on this one. And why would I when was calling silver to go long on Sammy's post and egging Court Jester . Makes no sense to predict a short ! Besides, I choose when my cyber eggs come out and didn't consider this call to be his best. But, being a long weekend ( 4th of July in the US ), not sure if Leon has dodged a bullet yet, see if he responds later in the week. Notice my lack of absence on this post ? But, when Leon makes another call and I think it's on the money - eggs will be out. Honesty, haven't some had enough egg on face lately ? And seriously, another account ! So much confusion over US and Australian silver spot price on Leon's posts. And now confusion between Australian and US account holders ! Another guess /prediction wrong for some. And that does deserve another egg . Serial, you do realise such posts like Leon's and Sammysilver's is fun ? Or are you playing for sheep stations ?
What is the best way to short silver right now without using any type of futures? I am considering a small speculative short position for fun and I am thinking about put options on a PM miner or maybe the double/triple inverse ETFs. Thanks for any input! Jim
You might want to wait Jim. Last time we saw something like this (2008) prices shot up 30+ % before dropping right back again. By memory price went from $10 to $13 and then back to $8 so hold on to your cash and buy physical when things settle again before THE MOON SHOT. Of course after the moon shot prices will come back to planet earth ,just make sure you sell plenty when we hit $35+ in 18 months time
OK LEON, makes the "double down" strategy requires him to throw good money after bad in hopes that the stock will perform well. On this trade, I do think you are grasping for straws. Of course you can adopt a final strategy if all else fails, by repairing it by reducing your break-even point without taking any additional risk. You have picked the dog the most fleas on this call Leon. However, if all else fails go for the break-even, just to piss some off. :lol:
Is anyone familiar with the Martingale betting system :- https://en.wikipedia.org/wiki/Martingale_(betting_system) This is what leon is playing. Works great for like 99% of the time while ever you keep "doubling down"...until of course you have such a bad run that you run out of money and can't afford to double down that one last time.... That won't be an issue here if leon isn't really trading or is using monopoly money. Therefore it is the perfect system for leon to scratch out a "winning record" and build up a forum fan club. I am genuinely afraid for anyone who legitimately follows his trades. To do so would be highly irresponsible.
HEAD FAKE indeed, silver is back down to 19.8 USD/oz now. So many peeps ignorant on Technical Analysis, but isn't that a good thing after all
Martingale system is designed for a 1:1 risk reward (i.e. blackjack tables) not shorting stocks. Martingale was a gambler and if the system truly worked than we should all forget learning anything and just go to the casinos. The reason it fails is due to poor risk management. Let's say you lose 7 "bets" in a row and started with $1,000. That is 1K, 2K, 4K, 8K, 16K, 32K, 64K for a total of 127K lost you would also have to have a bank roll of 255K just to make that 8th winning bet (128K plus 127K) all to win $1,000. Example: if you had a win streak of 7 bets you would make 7K, but if you then had the same streak of losses then see above loss amount. If you are wanting to learn more about risk management I recommend Optimal f as a book to read. But basically it says never to risk more than 3% of your bank roll on any trade.
Good call Leon. Too bad people infer you are wrong all the time. Your calls have been more right than wrong from what I have seen, although I haven't seen all of them I am sure. https://www.youtube.com/watch?v=Iwu-6GxBHN4 Jim
