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I'm long 10,000 ounces of silver - someone make me feel better about Monday!

jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

LOL. I thought I'd buy the dip on Friday. But it really looks like a head and shoulders top on the chart. I have no choice but to hold until Sunday night. Someone cheer me up!

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Comments

  • LukeMarshallLukeMarshall Posts: 1,983 ✭✭✭✭✭

    Curious, what is your timeframe on your long and are you talking physical❓

    If physical, you have more precious metal than 99% of the population 😳

    If you are truly long and didn't mortgage the house then own it, and harden yourself for swings🛡️

    It's all about what the people want...

  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    You'll never make spread on physical

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭
    edited September 14, 2019 6:29PM

    @LukeMarshall said:
    Curious, what is your timeframe on your long and are you talking physical❓

    If physical, you have more precious metal than 99% of the population 😳

    If you are truly long and didn't mortgage the house then own it, and harden yourself for swings🛡️

    Future contract. I really was hoping for a near term bounce.

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @MsMorrisine said:
    You'll never make spread on physical

    Futures contract. I don't need to cover a spread, but I would like the 25 feebrrs back that it dropped after I bought it. Lol

  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    I don't want to give you hope. Hope is for people that lose money.

    I will reassure you that it is only money and you'll at least have some excitement in your days.

    I will remind that you can sell for a loss as soon as you push that button. Just don't bleed out.

    As far as a near-term bounce, you have the FOMC results on Wednesday. What they say will be as important as what they do. Google cme fedwatch tool and you'll see odds on a rate cut, but it won't tell you what they say.

    Then there is the trade war.

    Then there is a possible up for gold and maybe silver if china finally uses the military to stop the micro-riots in HK.

    No good luck, relying on luck is also a path to losing money.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • Jinx86Jinx86 Posts: 3,710 ✭✭✭✭✭

    Wasn't there a drone attack some where in the middle East? Chaos for profits?

  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    Iran v Saudi Arabia

    No retaliation so far

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • rte592rte592 Posts: 1,690 ✭✭✭✭✭

    @jmlanzaf said:
    LOL. I thought I'd buy the dip on Friday. But it really looks like a head and shoulders top on the chart. I have no choice but to hold until Sunday night. Someone cheer me up!

    So your timing is off a bit, riding it out is easy.
    Surely you didn't buy 10,000 ounces with money you couldn't afford to take a hit on???

    That's rule #1.
    Don't tell me you forgot about rule #1.

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    Gutsy play. Good luck.

    If you don't lose sleep...you went too small. ;)

  • HemisphericalHemispherical Posts: 9,370 ✭✭✭✭✭

    @Jinx86 said:
    Wasn't there a drone attack some where in the middle East? Chaos for profits?

    @MsMorrisine said:
    Iran v Saudi Arabia

    No retaliation so far

    Took out about 5% of the worlds output. It’ll definitely shake markets come Monday.

  • PerryHallPerryHall Posts: 46,234 ✭✭✭✭✭

    @Hemispherical said:

    @Jinx86 said:
    Wasn't there a drone attack some where in the middle East? Chaos for profits?

    @MsMorrisine said:
    Iran v Saudi Arabia

    No retaliation so far

    Took out about 5% of the worlds output. It’ll definitely shake markets come Monday.

    This attack on the Saudi oil infrastructure will likely cause a rise in gold prices which may drag silver prices along for the ride.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @rte592 said:

    @jmlanzaf said:
    LOL. I thought I'd buy the dip on Friday. But it really looks like a head and shoulders top on the chart. I have no choice but to hold until Sunday night. Someone cheer me up!

    So your timing is off a bit, riding it out is easy.
    Surely you didn't buy 10,000 ounces with money you couldn't afford to take a hit on???

    That's rule #1.
    Don't tell me you forgot about rule #1.

    No. I know rule #1. But just because I could afford to lose money doesn't mean I WANT to lose money.

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @PerryHall said:

    @Hemispherical said:

    @Jinx86 said:
    Wasn't there a drone attack some where in the middle East? Chaos for profits?

    @MsMorrisine said:
    Iran v Saudi Arabia

    No retaliation so far

    Took out about 5% of the worlds output. It’ll definitely shake markets come Monday.

    This attack on the Saudi oil infrastructure will likely cause a rise in gold prices which may drag silver prices along for the ride.

    Maybe. Although i'm not sure that it will even move oil markets much less PMs.

  • HemisphericalHemispherical Posts: 9,370 ✭✭✭✭✭

    Posted this in the US Coin forum.

    Oil 2018 data (est):

    4500Mt produced worldwide

    583Mt by Saudi Arabia (SA)

    5% of world supply is 225Mt

    225Mt of 583Mt is 38.6% of SA production

    Nearly 40% of SA capability is affected.

    Not going to be fixed by Monday, regardless of the “news.”

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Fasten your seat belts.... or don't .... It is anybody's guess what will happen Monday.... Especially if Saudi Arabia hits back hard....which they really should....Cheers, RickO

  • OPAOPA Posts: 17,124 ✭✭✭✭✭

    We are dealing with a proxy war in Yemen between the Saudies, U.A.R, one one side & the Houthis , supported by IRAN on the other.
    Brief history of the Houthi dilemma.

    https://www.brookings.edu/blog/markaz/2017/12/18/who-are-the-houthis-and-why-are-we-at-war-with-them/

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • maplemanmapleman Posts: 1,052 ✭✭✭✭✭

    @Hemispherical said:

    @Jinx86 said:
    Wasn't there a drone attack some where in the middle East? Chaos for profits?

    @MsMorrisine said:
    Iran v Saudi Arabia

    No retaliation so far

    Took out about 5% of the worlds output. It’ll definitely shake markets come Monday.

    Agreed. I see upward move for metals Monday. Could be some real mid east conflict will ensue.
    Just my guess and I bought some ag on Saturday so fingers crossed.

  • derrybderryb Posts: 36,943 ✭✭✭✭✭

    I'll still be long 10,000+ after Monday. Feel better?

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • metalmeistermetalmeister Posts: 4,586 ✭✭✭✭✭

    A Pile of Silver = Sleep well my friend.

    email: ccacollectibles@yahoo.com

    100% Positive BST transactions
  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @PerryHall said:

    @Hemispherical said:

    @Jinx86 said:
    Wasn't there a drone attack some where in the middle East? Chaos for profits?

    @MsMorrisine said:
    Iran v Saudi Arabia

    No retaliation so far

    Took out about 5% of the worlds output. It’ll definitely shake markets come Monday.

    This attack on the Saudi oil infrastructure will likely cause a rise in gold prices which may drag silver prices along for the ride.

    Maybe. Although i'm not sure that it will even move oil markets much less PMs.> @derryb said:

    I'll still be long 10,000+ after Monday. Feel better?

    I don't feel worse

  • CoinstartledCoinstartled Posts: 10,135 ✭✭✭✭✭

    Monday is meaningless. Sunday at 7 PM EST will tell you the story.

  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    6pm open on futures

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @MsMorrisine said:
    6pm open on futures

    Yup. I'll be watching. My orders are already in

  • maplemanmapleman Posts: 1,052 ✭✭✭✭✭

    Dumdedumdum

  • shortnockshortnock Posts: 414 ✭✭✭

    What PerryHall said.

  • coinpalicecoinpalice Posts: 2,453 ✭✭✭✭✭

    you don't become real rich by being conservative, you take chances, ask any Millionaire

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    Oil futures going to trip the breakers

  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭

    There you go..up 25c..

    But oil up $8.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @coinpalice said:
    you don't become real rich by being conservative, you take chances, ask any Millionaire

    Ask poor people. You might get the same answer

  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    Houston, we have a profit

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    Down to 5000 oz. I feel better. Lol. And slightly guilty since the Houti helped my cause

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @MsMorrisine said:
    Houston, we have a profit

    Likely to be a turbulent week. There's also the Fed this week. And if the Saudis and or Americans strike back at Yemen or, worse, directly at Iran.

  • ARCOARCO Posts: 4,396 ✭✭✭✭✭

    Well JM, you got yourself a drone attack against one of the largest oil refineries in the world. War talk ratcheting up. Silver is up, chaos reigns..and, what more could you ask for? :)

  • ARCOARCO Posts: 4,396 ✭✭✭✭✭

    @jmlanzaf said:
    Down to 5000 oz. I feel better. Lol. And slightly guilty since the Houti helped my cause

    Odd isn't it? There is no tragedy in the world that isn't someone else's silver lining.

  • OPAOPA Posts: 17,124 ✭✭✭✭✭

    @cohodk said:
    There you go..up 25c..

    But oil up $8.

    Up by almost $6.00.

    https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • blitzdudeblitzdude Posts: 5,961 ✭✭✭✭✭

    No blood for oil, been there done that. Some profit off the death and destruction of others. It's a jacked up world. Semper Fi.

    The whole worlds off its rocker, buy Gold™.
    BOOMIN!™

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @ARCO said:

    @jmlanzaf said:
    Down to 5000 oz. I feel better. Lol. And slightly guilty since the Houti helped my cause

    Odd isn't it? There is no tragedy in the world that isn't someone else's silver lining.

    Well, I didn't buy it for that reason. I bought it for a bloodless bounce.

  • ARCOARCO Posts: 4,396 ✭✭✭✭✭
    edited September 15, 2019 3:26PM

    @jmlanzaf said:

    @ARCO said:

    @jmlanzaf said:
    Down to 5000 oz. I feel better. Lol. And slightly guilty since the Houti helped my cause

    Odd isn't it? There is no tragedy in the world that isn't someone else's silver lining.

    Well, I didn't buy it for that reason. I bought it for a bloodless bounce.

    Well, I believe you. I work with Construction companies. A bad winter means housing slows, but landscape companies do well pushing snow. A fire puts a family out of house, but creates jobs when rebuilding. A home infested with black mold keeps restoration companies fully employed, etc etc.

  • HemisphericalHemispherical Posts: 9,370 ✭✭✭✭✭

    Don’t forget junk food/snacks keep the “slim / trim / loose weight” industry going. :|

  • MilesWaitsMilesWaits Posts: 5,372 ✭✭✭✭✭

    And vaping helps the health industry.
    And crack dealers help the.......oh, never mind.

    Now riding the swell in PM's and surf.
  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭

    .

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 19,187 ✭✭✭✭✭

    @OPA said:

    @cohodk said:
    There you go..up 25c..

    But oil up $8.

    Up by almost $6.00.

    https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html

    Yup...backed off a bit from the open.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • MsMorrisineMsMorrisine Posts: 33,240 ✭✭✭✭✭

    Are we not having fun yet?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • BaleyBaley Posts: 22,661 ✭✭✭✭✭

    @ARCO said:

    @jmlanzaf said:

    @ARCO said:

    @jmlanzaf said:
    Down to 5000 oz. I feel better. Lol. And slightly guilty since the Houti helped my cause

    Odd isn't it? There is no tragedy in the world that isn't someone else's silver lining.

    Well, I didn't buy it for that reason. I bought it for a bloodless bounce.

    Well, I believe you. I work with Construction companies. A bad winter means housing slows, but landscape companies do well pushing snow. A fire puts a family out of house, but creates jobs when rebuilding. A home infested with black mold keeps restoration companies fully employed, etc etc.

    It's an ill wind indeed, that blows no fortune to anyone at all.

    Liberty: Parent of Science & Industry

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭

    [yawn...stretch...] ...wh...what's going on?...

  • rte592rte592 Posts: 1,690 ✭✭✭✭✭

    @jmlanzaf said:

    @rte592 said:

    @jmlanzaf said:
    LOL. I thought I'd buy the dip on Friday. But it really looks like a head and shoulders top on the chart. I have no choice but to hold until Sunday night. Someone cheer me up!

    No. I know rule #1. But just because I could afford to lose money doesn't mean I WANT to lose money.

    I hear ya,
    Nobody wants to lose money they work hard for.
    I think you will get even or better, it might just be longer than you would like to hold.

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @rte592 said:

    @jmlanzaf said:

    @rte592 said:

    @jmlanzaf said:
    LOL. I thought I'd buy the dip on Friday. But it really looks like a head and shoulders top on the chart. I have no choice but to hold until Sunday night. Someone cheer me up!

    No. I know rule #1. But just because I could afford to lose money doesn't mean I WANT to lose money.

    I hear ya,
    Nobody wants to lose money they work hard for.
    I think you will get even or better, it might just be longer than you would like to hold.

    Actually, sold all 10,000 ounces last night at a slight profit. It might have farther to run, but I wanted out before the FED acts this week which could also create a big move in either direction.

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    @MsMorrisine said:
    Are we not having fun yet?

    Oil futures would have been a LOT of fun lat night. I've never seen such volume. CLV19 traded over 450,000 contracts overnight. That's 450 MILLION barrels of oil!! Currently up about $5 per barrel, but peaked at almost +$8.5 /barrel Wild action

  • jmlanzafjmlanzaf Posts: 34,564 ✭✭✭✭✭

    If I really had stones, I'd pick a price point and short oil. There's been a glut on the market and this price burst is probably not sustainable.

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