Another round of smackdown is ahead for Gold and Silver
- Thread starter leon1998
- Start date
Marchas45
New Member
This week is going to be very interesting and I trully believe that the PM's are heading up, just my opinion.
By the way I stopped buying Miners, to unstable right now and I'm sticking to physical. Keep Stacking
By the way Jim, I found you. Lol
[youtube]http://www.youtube.com/watch?v=opKZMvvQy4k[/youtube]
By the way I stopped buying Miners, to unstable right now and I'm sticking to physical. Keep Stacking
By the way Jim, I found you. Lol
[youtube]http://www.youtube.com/watch?v=opKZMvvQy4k[/youtube]
Jim4silver
Well-Known Member
Marchas45 said:
Hey Charlie, glad you could drop in!
Jim
Jim4silver
Well-Known Member
leon1998 said:Initiated some short position on silver @14.50 spot; considering adding more short position tomorrow after FOMC announcement.
It's looking a bit dicey today for your short position Leon. Will you cover or keep the fight going?
Jim
I just added more short position @14.7
Jim4silver said:leon1998 said:Initiated some short position on silver @14.50 spot; considering adding more short position tomorrow after FOMC announcement.
It's looking a bit dicey today for your short position Leon. Will you cover or keep the fight going?
Jim
Jim4silver
Well-Known Member
leon1998 said:I just added more short position @14.7
Jim4silver said:leon1998 said:Initiated some short position on silver @14.50 spot; considering adding more short position tomorrow after FOMC announcement.
It's looking a bit dicey today for your short position Leon. Will you cover or keep the fight going?
Jim
Good luck Leon! I hope you are right because I want to buy some cheaper silver. I went to the store today and even the most cheapo stuff is over $15 an ounce again.
Are you playing Comex to short or using inverse ETF's, options, etc? I had a futures account many years ago but only played futures options no actual contracts.
Jim
Silver should be in a 4th wave up. 'Most likely' it will rise a few dollars from here.
I just shorted SLV. 
Jim4silver said:leon1998 said:I just added more short position @14.7
Jim4silver said:
Good luck Leon! I hope you are right because I want to buy some cheaper silver. I went to the store today and even the most cheapo stuff is over $15 an ounce again.
Are you playing Comex to short or using inverse ETF's, options, etc? I had a futures account many years ago but only played futures options no actual contracts.
Jim
MetalHeart
New Member
Silverpv said:
Hold on to those...they are going to do well.
Caneorange
Member
Curious as to why you short Slv instead of buying a put. I typically buy puts since I am looking for a short term play and they require less margin.
Example: slv currently trading at 13.95. To short 100 shares need 697.50 margin. If slv drops $1 you make 100 or 14% which is awesome but you have unlimited upside risk (I know you'll stop it at a certain level)
Buying a 14.00 put though has you essentially the same shares short of the market and costs currently $50. So if slv drops $1 you make 100 or 200% and have a max risk of $50. Yes there is a time frame (March 18) but isn't this a short term play anyways?
Edit to correct the symbol thanks to autocorrect.
Example: slv currently trading at 13.95. To short 100 shares need 697.50 margin. If slv drops $1 you make 100 or 14% which is awesome but you have unlimited upside risk (I know you'll stop it at a certain level)
Buying a 14.00 put though has you essentially the same shares short of the market and costs currently $50. So if slv drops $1 you make 100 or 200% and have a max risk of $50. Yes there is a time frame (March 18) but isn't this a short term play anyways?
Edit to correct the symbol thanks to autocorrect.
SilverSale said:
I hope your right
Jim4silver
Well-Known Member
US dollar is looking kind of weak. I guess they've figured out there will probably not be any more rate increases any time soon? I think silver is going to break $15 today or tomorrow.
Maybe the big shorts (like Leon
) are waiting for it to rise a bit before they smack it down. With the latest COT data it's kind of strange to think the price will keep going up short term.
I am going to sell some of my Engelhard cool stuff to a collector here and would like to put the proceeds into some cheaper bullion (sub $14 spot).
Just my opinion.
Jim
Maybe the big shorts (like Leon
) are waiting for it to rise a bit before they smack it down. With the latest COT data it's kind of strange to think the price will keep going up short term. I am going to sell some of my Engelhard cool stuff to a collector here and would like to put the proceeds into some cheaper bullion (sub $14 spot).
Just my opinion.
Jim
If being able to predict the direction of gold and silver were as simple as analysing the COT reports and going in the same direction as the commercials on a weekly basis everyone would be doing it. They'd be no reason to look at anything else
Jim4silver
Well-Known Member
Caput Lupinum said:
Since I have been watching the COT numbers, said indicator has been fairly prescient. Short term movements are what I am referencing. I would not depend on them enough to short PM's though. Although I am a long term PM bull, I am not blind to data that suggests PM's might drop in price short term, unlike some.
We'll have to see if what I am saying is correct this time.
PS COT numbers are not the ONLY thing I look at, but are the only thing I mentioned in my post.
EDIT: I think we will get to the 200 day moving average before we drop back (a smidge over $15).
http://stockcharts.com/h-sc/ui?s=$SILVER
Jim