SLV | Page 2 | TigerDroppings.com
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ynlvr
LSU Fan
Baton Rouge
Member since Feb 2009
1095 posts

re: SLV

30yr treasury rates got a bump, and SLV dove.


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LSURussian
LSU Fan
Member since Feb 2005
85152 posts

re: SLV
quote:

It will climb back up into the 20's within the next few weeks.


Image: http://www.jamesapplejr.com/wp-content/uploads/2012/12/boy-dog-praying21.gif width = 300


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
39003 posts

re: SLV
quote:

Im a total bitch when it comes to playing silver. It always seems like a great deal, and then I lose my shirt on it.


Metals are like downed power lines to me - I'm fascinated by watching, but way, way too scared to touch.


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Lsut81
USA Fan
Member since Jun 2005
66067 posts

re: SLV


LSUtoOmaha
LSU Fan
Nashville
Member since Apr 2004
21804 posts

re: SLV
I'm in at $19.17. 210 shares


Lsut81
USA Fan
Member since Jun 2005
66067 posts

re: SLV
quote:

I'm in at $19.17.


You came close... looks like 19.07 is where it bottomed out and now starting to tick up.


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Cmlsu5618
McNeese State Fan
Destin, FL
Member since Sep 2010
3624 posts

re: SLV
Was solely talking about your briefs ... But yeah stick with those short postions as well.


LSURussian
LSU Fan
Member since Feb 2005
85152 posts

re: SLV
quote:

I'm in at $19.17. 210 shares

You're going to do well, IMO. Maybe even as soon as tomorrow.

I just put a limit order in to double down (well, not quite double but almost) at today's current low price, $19.07.

If it fades going into the closing bell, I'm fully committed.

Or, maybe I should BE committed....


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
39003 posts

re: SLV
quote:

You're going to do well, IMO. Maybe even as soon as tomorrow


Should I buy 200 shares of this at around 19 1/8 Russian?

I'll say you're awesome if you're right - (I've never bought metals before)...


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
39003 posts

re: SLV
quote:

I'm in at $19.17. 210 shares


Got 200 for $19.12



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CrackingCodes
LSU Fan
Baton Rouge
Member since Jun 2010
689 posts

re: SLV
I just got in at $19.13


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
39003 posts

re: SLV
I'm over my fear - already up a cool $1, American.


C
LSU Fan
The Woodlands, TX
Member since Dec 2007
23093 posts
Online

re: SLV
I'm going to stay on the sidelines for a bit longer... goodluck fellas


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LSURussian
LSU Fan
Member since Feb 2005
85152 posts

re: SLV
quote:

Should I buy 200 shares of this at around 19 1/8 Russian?

I'll say you're awesome if you're right -
Don't ask me for advice! I'm down over $2500 on my SLV position in just over 24 hours.

However, I have observed that when metal prices take a dip like they have over the past couple of days, they usually bounce back somewhat within a few days. It's not like the demand for silver went down 2.5% today or 5% this week or that someone just discovered a new mother lode of silver that's going to flood the market with new supply.

Somebody probably interpreted the Fed's minutes today in such a way that they think 'tapering' is going to happen sooner rather than later and that interpretation is just as likely to be reversed tomorrow by some other talking head.

In any case, my almost double down order didn't get filled. Probably just as well. I may get a chance to buy at an even lower price tomorrow.


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LSURussian
LSU Fan
Member since Feb 2005
85152 posts

re: SLV
quote:

I'm over my fear - already up a cool $1, American.


econ85
Longwood Fan
Member since Nov 2012
572 posts

re: SLV
Russian,

Why don't you trade futures rather than buying the stock?


LSURussian
LSU Fan
Member since Feb 2005
85152 posts

re: SLV
quote:

Russian,

Why don't you trade futures rather than buying the stock?

For one thing three of my largest broker accounts are tax deferred accounts (IRA rollovers and my SEP) and my broker won't allow the purchase of futures or options in those accounts. Maybe it's a law or perhaps it's just the broker's policy.

As far as my taxable accounts, I've just never been interested in doing it.

Tell me why you believe buying futures is better than owning the actual stock. Thanks.


econ85
Longwood Fan
Member since Nov 2012
572 posts

re: SLV
quote:

Tell me why you believe buying futures is better than owning the actual stock.


If you're trading large amounts of the ETF, it's going to be a lot less in commissions if you trade one futures contract.

One silver futures contract puts you in control of 5,000 ounces of silver. So lots to be made or lost rather quickly.

Disclaimer: my broker requires you have $15k liquid to trade silver contracts.

EDIT: After today's fed announcement, one contract made a $2k move.

This post was edited on 11/20 at 5:33 pm


LSURussian
LSU Fan
Member since Feb 2005
85152 posts

re: SLV
quote:

If you're trading large amounts of the ETF, it's going to be a lot less in commissions if you trade one futures contract.
I can buy or sell any ETF or exchange traded stock for a flat commission of $6.95 per trade up to 10,000 shares for my Schwab accounts or $7.95/transaction for my TDAmeritrade accounts.

My usual minimum trade is 1,000 shares except if I'm trading AAPL or GOOG in which case I usually only trade two to three hundred shares per transaction. Of course, if I buy Berkshire A, I only trade ONE share at a time.

So I don't think the commission costs are a factor influencing my trading decisions.

quote:

One silver futures contract puts you in control of 5,000 ounces of silver. So lots to be made or lost rather quickly.


True, and that's a valid point. However my first reaction is I only see the "lots of money to be lost rather quickly" part of your statement.


Ace Midnight
LSU Fan
Between sanity and madness
Member since Dec 2006
39003 posts

re: SLV
quote:

However my first reaction is I only see the "lots of money to be lost rather quickly" part of your statement.


Great minds think alike - literally all I saw was "blah, blah, blah, lose a bunch of money quickly."



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