Real traders mean shares. Pikers mean $$.
bought 6k SLV
- Thread starter mikeenday
- Start date
Quote from Petsamo:
$6K of SLV would be an odd lot, so I think he means 6K shares of SLV.
'denner
Registered: Aug 2010
Posts: 681
05-05-11 11:32 AM
Just to keep it honest, how many calls did you buy 2 days ago?
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mikeenday
Registered: Feb 2011
Posts: 40
05-05-11 11:36 AM
8"
I don't think someone who bought 8 calls would buy $210,000 of the underlying. 6k slv at 35 = 210,000
down $10200 as of AH trading......ouch
This is a chart from the silver carnage 30+ years ago when there was a whole lotta economically based fear and trembling much like these days.
Today's Hunt Bros. is the SLV etf which allows the guy pumping gas at the Mobil to invest in silver. Actually, Mobil guy did tell me just that two weeks ago and gave the best bubble indicator that time was nigh to start looking for a short;-)
IMO, there must be a lot of folks holding this thing at a loss so they are itching to sell any rallies to recoup what they can. I've got my eyeball on the 50 MA around 38 today and if any day closes above that, will reconsider direction. Until then, I am looking for lots of blood on the cliff walls as it drops
Today's Hunt Bros. is the SLV etf which allows the guy pumping gas at the Mobil to invest in silver. Actually, Mobil guy did tell me just that two weeks ago and gave the best bubble indicator that time was nigh to start looking for a short;-)
IMO, there must be a lot of folks holding this thing at a loss so they are itching to sell any rallies to recoup what they can. I've got my eyeball on the 50 MA around 38 today and if any day closes above that, will reconsider direction. Until then, I am looking for lots of blood on the cliff walls as it drops
It's gotta feel like shit for longs right now..........what a POS...
c'mon now bro, i just like to post a chart and throw out an opinion every now and then, the pain of the underwater longs is a reality regardless of my post.
besides, if someone bought at $49 and held to $34, they should seriously consider a small course in trade/money management.
You can argue that now is a good time to buy as a potential bottom to the massive selloff but if you buy here, gotta have an exit strat if it happens to go against you, i know YOU know that.
If folks did (and there are a lot) have their accounts worked over by this drop, then perhaps it will be the lesson that helps them make the necessary changes to become successful.
To all still holding longs from way up there and feeling the pain, hope it goes back up for you and sorry for your loss (i am still sitting on a chunk of the physical stuff so is good for me if it goes back up so i can melt it as just got the address of a good refiner with excellent rates last weekend but as the process takes a couple of days, was waiting for a stabilization at a more favorable price...arghhhhh...
inspired by this post, I also had 6k shares long and short(flipped back and forth) throughout the day......I had over $10k swing today...it was painful. I WILL NOT do this again!!!! fuck silver fuck gold fuck oil......