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Started By
Message
re: SLV
Posted on 11/20/13 at 1:23 pm to LSURussian
Posted on 11/20/13 at 1:23 pm to LSURussian
30yr treasury rates got a bump, and SLV dove.
0
Posted on 11/20/13 at 1:25 pm to Lsut81
quote:
It will climb back up into the 20's within the next few weeks.
Posted on 11/20/13 at 1:29 pm to Bear Is Dead
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.
Posted on 11/20/13 at 1:38 pm to LSURussian
quote:
LSURussian
Don't worry Russian... Things will be ok.
Posted on 11/20/13 at 1:55 pm to Lsut81
I'm in at $19.17. 210 shares
Posted on 11/20/13 at 2:10 pm to LSUtoOmaha
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.
Posted on 11/20/13 at 2:15 pm to LSURussian
Was solely talking about your briefs ... But yeah stick with those short postions as well.
... But yeah stick with those short postions as well. Posted on 11/20/13 at 2:50 pm to LSUtoOmaha
quote:You're going to do well, IMO. Maybe even as soon as tomorrow.
I'm in at $19.17. 210 shares
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....
Posted on 11/20/13 at 2:53 pm to LSURussian
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)...
Posted on 11/20/13 at 2:56 pm to LSUtoOmaha
quote:
I'm in at $19.17. 210 shares
Got 200 for $19.12
Posted on 11/20/13 at 2:56 pm to Cmlsu5618
I just got in at $19.13
Posted on 11/20/13 at 2:59 pm to CrackingCodes
I'm over my fear - already up a cool $1, American.
Posted on 11/20/13 at 3:08 pm to Ace Midnight
I'm going to stay on the sidelines for a bit longer... goodluck fellas
Posted on 11/20/13 at 3:14 pm to Ace Midnight
quote:Don't ask me for advice! I'm down over $2500 on my SLV position in just over 24 hours.
Should I buy 200 shares of this at around 19 1/8 Russian?
I'll say you're awesome if you're right -
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.
Posted on 11/20/13 at 3:15 pm to Ace Midnight
quote:
I'm over my fear - already up a cool $1, American.
Posted on 11/20/13 at 5:08 pm to LSURussian
Russian,
Why don't you trade futures rather than buying the stock?
Why don't you trade futures rather than buying the stock?
Posted on 11/20/13 at 5:16 pm to econ85
quote: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.
Russian,
Why don't you trade futures rather than buying the stock?
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.
Posted on 11/20/13 at 5:31 pm to LSURussian
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 11/20/13 at 5:33 pm
Posted on 11/20/13 at 5:47 pm to econ85
quote: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.
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.
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.
Posted on 11/20/13 at 8:04 pm to LSURussian
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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