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Pierre 
LSU Fan
Baton Rouge
Member since Nov 2005
3808 posts
| Bought gld and slv yesterday (Posted on 2/22/13 at 10:27 am)
Your thoughts? Edited. Looking for a 10 percent pop than I'm out. Bought in a Roth and plan to exit in 3 months or less
This post was edited on 2/22 at 10:30 am
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bunky
LSU Fan
FREE EL GUACHO
Member since Jul 2011
4363 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 10:30 am to Pierre)
Should have bought physical...I'm a big fan of stackerbation.
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Pierre
LSU Fan
Baton Rouge
Member since Nov 2005
3808 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 10:34 am to bunky)
I won't buy physical gold for a 3 month plan. Event to hold 5 percent in a long term portfolio seems cumbersome. Jmo
Edited i don't believe the gold trade over the Long term.
This post was edited on 2/22 at 10:38 am
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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
36377 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 10:53 am to Pierre)
Im just confused about what is going on with gld and slv right now. The market is tanking and taking PM with it? Countries are having financial concerns and PM is in the tank?
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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17422 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 11:07 am to bunky)
quote:
Should have bought physical...
The transaction costs for physical gold seem to be enormous.
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AUtigerNOLA 
Auburn Fan
New Orleans, LA
Member since Apr 2011
5141 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 11:12 am to Catman88)
quote:
The market is tanking and taking PM with it?
I wouldnt say the market is tanking.
IMO the dollar is the main reason why gold is going down with silver. The Dollar has soared this month. You can see the trend when comparing the charts with gold vs dollar.
LINK
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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1297 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 11:54 am to AUtigerNOLA)
I haven't been keeping up, but any explanation for the rise in the dollar? Any foreseeable consequences from this type of market behavior?
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Fat Bastard 
New Orleans Saints Fan
Paradise
Member since Mar 2009
13493 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 12:03 pm to bunky)
quote:
Should have bought physical.
NO
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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
13493 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 12:05 pm to C)
quote:
The transaction costs for physical gold seem to be enormous.
and a waste IMO when you can just trade an ETF or futures contract instead.
This post was edited on 2/22 at 12:05 pm
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AUtigerNOLA
Auburn Fan
New Orleans, LA
Member since Apr 2011
5141 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 12:37 pm to RickAstley)
quote:
I haven't been keeping up, but any explanation for the rise in the dollar? Any foreseeable consequences from this type of market behavior?
I am no expert and I am sure there are other people on the board that can give you a better answer than me, but I do research a lot. Here's what I think:
There are always several reasonings for this. One thing that stands out to me is the trend. The trend right now is the US Dollar. Because of this people will usually sell off their gold/other currency positions and put it into the greenback or treasuries. Another reasoning could be other countries are seen as being in a worse financial state than the US. So investors are seeing the Dollar as a better investment.
Here is an article I agree with in terms on why the dollar rises, usually. He gives pretty good answers: LINK
The only consequences I can see based on this, would be commodites prices and metals trending down.
This post was edited on 2/22 at 12:42 pm
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ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
862 posts
 Online
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 12:39 pm to Fat Bastard)
Fat bastard you can't trade a share of etf for Campbell's soup cans in the event shtf and were all in bunkers with no access to Internet with nothing but guns and coins....watch doomsday preppies man....buy the 100oz pieces on apmex bc it's gonna take a lot of individual coins to pay for cars
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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1297 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 12:54 pm to AUtigerNOLA)
Thank you for the response. That is an interesting read. My boss watches trends periodically and he is in a frantic saying the economy is about to collapse. Which pushed me to ask the question
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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1297 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 12:56 pm to ThaBigFella)
quote:
watch doomsday preppies man
My boss is a doomsday prepper and has gotten me into watching the show and seeing things in a completely different way. He is prepping for economic collapse and the receding value of silver and gold has got his wheels turning today. He has been informing the office that collapse is right around the corner.
He is a stressful dude sometimes, but I have a ton of respect for him.
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Lsut81
LSU Fan
Member since Jun 2005
54985 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 1:14 pm to Fat Bastard)
quote:
when you can just trade an ETF
Someone explain ETF's for me... I know they are commodities funds, but is there only one for each (Gold, Silver, Copper, etc)?
I may throw a shite ton of money into silver right now since its down about $5 over 2 weeks ago.
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AUtigerNOLA
Auburn Fan
New Orleans, LA
Member since Apr 2011
5141 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 1:20 pm to RickAstley)
 Your boss sounds like quite a character.
ALOT of people have similiar feelings as your boss in terms of a market collapse.
I think he would like this site. This guy is always predicting disaster in the markets: LINK
This website has free articles usually everyday.
This post was edited on 2/22 at 1:21 pm
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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1297 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 1:39 pm to AUtigerNOLA)
quote:
Your boss sounds like quite a character.
He is definitely. I appreciate the guy, he has been a great manager and real easy to communicate to. The times I get distraught about his paranoia is when he blindsides you with his recent readings and how it relates to the task you are doing at hand. For example, recently I brought in 8 cans of canned soup and chef boy r d for upcoming lunches when I don't want a sandwich. My boss comes up to me after I just filled the cupboard and opened one can to microwave, and expresses how chemicals in canned food are linked to numerous forms of cancer. Lunch was terrible that day.
He is also peculiar about ranting in the early hours of the day, at the times when a boost of morale is need the most. Try working your normal 8-10 hour shift after listening to him rant how the government blows, economy will collapse, how you can't survive without proper prep, etc... Those days I find myself browsing the web the most.
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Jwodie
LSU Fan
New Orleans
Member since Sep 2009
3923 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 1:51 pm to RickAstley)
Your boss sounds like a few of my conspiratorial friends who are rapidly buying up silver to fend off the impending "inevitable" collapse of America. While I don't fault one for investing some capital in PMs, you're better off investing in gold/silver index funds rather than physical PMs. That is, unless you actually believe we're rapidly approaching a post-Apocalyptic state.
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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1297 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 2:02 pm to Jwodie)
I never put much thought to the world ending, and how I would try to survive if survival was an option. Since working here, I have pretty much learned that if it hits the fan, my last hope is to find my boss's hideout and work for him. Otherwise I am screwed.
I do keep up with PMs a considerable amount more though. I try to identify items with silver content and I don't mind stockpiling an amount that is easy enough to transport. Other than that, I have not bought into the doomsday movement, but I find it very interesting.
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bunky
LSU Fan
FREE EL GUACHO
Member since Jul 2011
4363 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 2:31 pm to RickAstley)
Worst comes to worst,
My kids will get badass tooth fairy coins under their pillows in the form of Silver Eagles.
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Tigris
Colorado Fan
In a van by the river.
Member since Jul 2005
4740 posts
| re: Bought gld and slv yesterday (Posted on 2/22/13 at 8:12 pm to bunky)
quote:
Should have bought physical
Why? Seriously. Commissions make that a bad option unless everything goes to hell. In that case guns, ammo, and canned food are worth more than gold, so again, why?
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