Bye-bye Silver

AKUMATOTENSHI · Apr 10, 2011

Quote from Ghost of Cutten:

Bull market rule - 'don't sell unless you would sell short'

This applies to your core position, obviously if you pyramided like a mofo in the recent move, then you might wanna unwind some of that if this move keeps going, and get your risk back to more reasonable levels.

If you are only on the buy side hold and never move in out of the asset class (Silver) then alot of beta is being lost. Selling into strength and booking gains is what trading is about. Even large trading houses will scale up and down on equities to maximise the margin. What would make a person unwind some of the silver position? A total colapse of fiat currency is not a likely outcome globaly. I'll take my gains and find another entry point or asset class. You can't ride that same horse forever.

Akuma

thriftybob · Apr 10, 2011

I agree. When things go parabolic, its smart to unwind at least part of a position and take profits.

That said, I wish I hadn't started selling in the low 30's. If I had waited a bit longer, I'd have made more on what I sold, and had more left to sell.

Only have 1/6 th left...

BlackBison · Apr 10, 2011

Quote from peilthetraveler:

I'm in at an average price of $15.24 and I do not plan to sell anytime soon. Asking a silver investor to sell at $40 is like asking an apple investor who bought AAPL in 2003 at $7 to sell in 2005 at $40 because it was already a 5 bagger.

Great analogy. Personally I think selling precious metals or commodities now would be similar to selling your long nasdaq position in 1993 at 700 because it had gone up 4x or 5x in the previous ten years.

The nasdaq then went up further by a factor of 7x to a peak of 5000 in the year 2000.

Full Disclosure: I am long physical silver from 15$, but its not a huge position as it is unleveraged. I will be looking to accumulate more silver on dips as well as agricultural commodities and land where possible over the next 10+ years, unless there is a huge shift in global demographics or government policies (both of which are very unlikely in my opinion).

Ghost of Cutten · Apr 10, 2011

Quote from AKUMATOTENSHI:

If you are only on the buy side hold and never move in out of the asset class (Silver) then alot of beta is being lost. Selling into strength and booking gains is what trading is about.

Riding major trends, and sitting tight while your profits mount, is what trading is about.

longorshort · Apr 11, 2011

Hey man, don't feel bad. I had 1000 oz at the 12.00. Sold 21, 25, 37.5. Still have half..... 500 oz at my hizzy.... ohhhhhhhh Get rich or blow up trying.

peilthetraveler · Apr 11, 2011

Quote from AKUMATOTENSHI:

If you are only on the buy side hold and never move in out of the asset class (Silver) then alot of beta is being lost. Selling into strength and booking gains is what trading is about. Even large trading houses will scale up and down on equities to maximise the margin. What would make a person unwind some of the silver position? A total colapse of fiat currency is not a likely outcome globaly. I'll take my gains and find another entry point or asset class. You can't ride that same horse forever.

Akuma

Why do you say a total collapse of fiat money isnt likely globally? All fiat currencies since the romans first started it in the 1st century have failed. The US has hyperinflated 2 currencies since 1690. 1st one was the colonial notes, and the 2nd one was the contintentals.

History has proven that no matter how big and powerful your country is, if your paper money is not backed by anything, it WILL fail. And since we havent been backed by gold for the last 40 years, we are seeing the effects of that.

You can ride that silver horse alot longer than the dollar horse.

AKUMATOTENSHI · Apr 14, 2011

The reason being is that fiat currency has taken e-form. It is much more efficient to transfer electrons than physical commodities. Fiat currency has been abused since the remelting of coinage. With the advent of e-money representative money will only stay longer on in the economic system and take a different form.

Akuma

murray t turtle · Apr 21, 2011

Quote from siafx:

Looks like the âBuy Silver vs. JPMâ campaign
may have run its course.
No more demand as all the buyers are already in.

================
Si;
Sure looks that way =monthly lower LOW candle ;
Monthly candle =lower close,
both those lower[monthly candles]on higher sell[red] volume, so thats more bearish

Momentum & price are almost literally ''off the charts''High parabolic time price also.January ,2011

[3 , 7, 10, 25yr charts...]
==========================================

However calender now is late APRIL;
typical strong uptrend=non of those indicators except price mean much. JAN had a higher high also; bullish again

Even parabolic time price,, which i have foud somewhat useful;
means little or nothing to many of the cash buyers.................................................................................
Parabolic monthly time price is nowhere near as useful as ''trend friend'' It would be quite late [in time ]for any leverage longs/position;
but for early cash or ''regular'' cash buyers, trend is still friend.

50% -55% pullback quite possible.

August · Apr 26, 2011

Clear evidence that the the China Silver Shorting Theory is true!

http://youtu.be/s8mBEpuIYY0

It's propaganda I tell you!!!!

AKUMATOTENSHI · May 5, 2011

Quote from AKUMATOTENSHI:

If you are only on the buy side hold and never move in out of the asset class (Silver) then alot of beta is being lost. Selling into strength and booking gains is what trading is about. Even large trading houses will scale up and down on equities to maximise the margin. What would make a person unwind some of the silver position? A total colapse of fiat currency is not a likely outcome globaly. I'll take my gains and find another entry point or asset class. You can't ride that same horse forever.

Akuma

Told you so. Silver @35.97 4/5/2011 @ 11:36:00 EST

Akuma