re: SLV - Holy Cow! Down to $17.16

1/17 18 calls at 2.00

Let's roll

buy now because it cant survive long at below 17. it will shoot back up to at least 20 before christmas. you can book that as a fact!

I think so. Depending on how you factor all in costs, this isn't sustainable.

What's interesting to me is the relationship between Fed policy, notwithstanding the one recent contrarian comment by a Fed banker which apparently sent equities tumbling, and decreased industrial demand for silver. Decreased industrial demand period, excluding silver.

I don't know what to make of the recovery, or non recovery, whichever it is. Benny and one the other guy on here likely know the answers I guess. I don't.

Options decay my little Soviet interwebz friend.

Got out at $16.59. Nice 1.7% gain

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16.22 now. This seems like a no brainer.

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well, it was falling fast and didn't seem to want to stop, I was wondering if it was just going to go to 0.00

finally stopped at 16.04, crawled back up, but it really seems to wants to fall again....looks like lowest price since Feb 2010...4.5 years ?!?!

Some of the guys here seem to know something about banks manipulating the market in some way..I'd appreciate an update on that if anyone is listening

thanks

I wouldn't buy quite yet. You guys do what you want. I am silver bull about as big as they come meaning I actually own the metal.

What I'm waiting for, and it isn't a guaranty, is producers to start shutting down mines.

Having said this, there are tons of oil companies and miners trading below book value right now. I'd be more careful with miners and only buy the quality operations that produce several metals, and not all precious metals.

What I am contemplating for paper trades is buying 2016 leaps on GLD and probably trying to make the market for calls on SILJ as there is no market out as far as they go, and maybe buy the paper ETF SIL as it pays a small dividend. And wait.

As far as stacking more silver, I haven't done anything further. I think probably the same holds true as the paper. Wait for miners to suspend operations, wait for the COT reports to see where the big guys are at (and see where they want to move the price) and wait on Uncle Sug.

I don't think anything will be happening any time soon. I don't know though. World crisis could change that in a hurry, but really impact gold more and I think there is a new gold to silver ratio based on the last several years of pricing.

I meant GDX, not GLD in the above post.

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Now is the time to get in the mix. It's a safe play and the bottom will never fall out on you.

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oh....it can go lower!!! But it'll come back up. I like silver over gold. I may be deluded by false info, but it has more industrial uses and a more limited supply or at least harder to ramp up in face of rising demand. Now one area that silver is losing all of it's demand is xray. NOt sure how much of silver demand is due to that, but previously it was substantial. Even when silver was priced about where it is now, my xray film price/month was enough to pay for a new state of the art computerized machine for my office. Cut my need for silver containing films to $0. Have not found good info on the price impact of this world wide as other providers upgrade. And yes. We sell our expired films for a premium. At current prices I'm have a place that will return my physical silver that is extracted for a minimal processing price.