Anybody buy the dip?

CaptHenway · May 2, 2011 12:18AM

Go ahead and brag, but we want pictures!

cjmezz · May 2, 2011 12:21AM

Speaking of pictures...how bout that 49oz Gold Bar, Capt?

revoldlog · May 2, 2011 12:23AM

I bought some dip yesterday at Safeway

pmcollectour · May 2, 2011 12:23AM

I bought five 1/2 oz gold maples last night before the dip, so technically, I bought the "pre-dip".

I'll try to post pics when they come in.

DrBuster · May 2, 2011 12:30AM

Urgh, I had some stuff in my cart at Provident from Friday that I was looking at, but didn't pull the trigger. Almost back up to the price I had Friday, so I missed that.

Wingsrule · May 2, 2011 12:31AM

AGQ at 327.

grabba · May 2, 2011 12:34AM

<< Speaking of pictures...how bout that 49oz Gold Bar, Capt?

>>

I second that motion.

akuracy503 · May 2, 2011 12:58AM

AGQ At $316 to cost average my losses from Fridays $354 purchase, so far this morning I've recouped all my losses from Fridays purchases and have more skin in the game to boot.

derryb · May 2, 2011 1:23AM

added to the AGQ "stack" at $318. Stack gettin' tall.

dontippet · May 2, 2011 2:25AM

I searched and searched ebay last night, and got within 2% with a seller, but we couldn't completely agree. I now wish I had paid the additional 2%.

Weiss · May 2, 2011 3:01AM

I have that $309 check from Midwest Refineries sitting here. My dealer's been closed for a week vacation, but reopens tomorrow. Don't know at what point of the dip it'll be, but if he has anything in the ~$309 range it'll be MINE!

SilverBaron · May 2, 2011 4:07AM

So my dealer calls this morning with a silver deal " well under spot ".

Sooooooo todays pick up is 75,000 war nicks at $2 each!

Keep on Stack'n!

cjmezz · May 2, 2011 4:12AM

Not bad Mr. Baron.....my calculations come out to 4,222.50 oz which would be about $35.50 an oz......"well under spot" is always nice!!

dontippet · May 2, 2011 4:42AM

What dip? What I want to know is if anybody is man enough to admit they bought on today's bubble.

MsMorrisine · May 2, 2011 4:52AM

not yet, but I'm pondering it.

those low $40s levels look mighty tempting.

I hope we go down there again.

bstat1020 · May 2, 2011 4:52AM

150K on war nickels!!!! Wow, that truley amazes me!!

akuracy503 · May 2, 2011 4:54AM

I'm getting bent over at this moment

Meltdown · May 2, 2011 5:08AM

<< I'm getting bent over at this moment >>

No further details necessary, thank you.

Coins101 · May 2, 2011 5:11AM

<< AGQ At $316 to cost average my losses from Fridays $354 purchase, so far this morning I've recouped all my losses from Fridays purchases and have more skin in the game to boot. >>

Lets see, you bought at $354 friday (I know you were asking about where to park $10K) and then bought at $316 to average your loss. We are currently sitting at about $295. Did you shoot your whole wad?

akuracy503 · May 2, 2011 5:14AM

I am sitting on it like a dead duck, kinda like your avatar

I'm going to man up and stick it out, no walking away from AGQ like a coward, still fundamentals.

edmundfitzgerald · May 2, 2011 6:32AM

I can never "play the market". Tried doing it once, (with limited success +20K), but find out I didn't have the stomach for it.

I give you guys credit who can go to sleep at night being down 10-20-50k in your trading accounts. I don't know how you do it.

I think it's better to just buy physical, and never buy paper. But then again, you've got to be in it to win it I guess.

CaptHenway · May 2, 2011 7:15AM

<< 

<< Speaking of pictures...how bout that 49oz Gold Bar, Capt?

>>

I second that motion. >>

See birth year thread.
TD

derryb · May 2, 2011 7:26AM

More AGQ on today's second dip.

OPA · May 2, 2011 8:40AM

<< Anybody buy the dip >>

Let me know when the "dip" ends and I'll be buying again.

derryb · May 2, 2011 9:49AM

"I see nothing attractive about buying silver at $43 in a parabolic spike, when it was $17 less than a year ago." - Mish

roadrunner · May 2, 2011 10:03AM

Mish makes some valid points. But one of them isn't that PM's are now in a seasonally weak period. May happens to be one of the better months of the year
for gold and silver. A 12% correction in 15 minutes in after hours trading is a little unusual, even for parabolic silver. At that rate silver would be back to $2 oz.
in 24 hrs. No doubt there were some "fools" who bought silver at $42-$45 today, just like there were fools (like me) who bought at $20 Silver back in March 2008.

roadrunner

jmski52 · May 2, 2011 11:15AM

At that rate silver would be back to $2 oz.

That would get my attention!

CaptHenway · May 2, 2011 11:27AM

Well, I have to say that I would be totally lying if I said I had ANY idea what metals are going to do tomorrow.

jmski52 · May 2, 2011 11:35AM

U an me both, Captn.

MsMorrisine · May 2, 2011 11:40AM

if it were moving up on fundamentals and with fundamental based numbers we could quote, we wouldn't be worried about tomorrow or next week.

MrBear · May 2, 2011 3:48PM

I got stuck in meetings this morning and could only watch AGQ go up. Bought in at 343. Was grumbling about 30 minutes later after it had peaked and started its plummet for the rest of the day. I'm wondering if I should jump in first thing in the morning if it stays low (I probably can't just from a logistical standpoint - work is going to be INSANE tomorrow and I won't have much net access)

miklia · May 2, 2011 7:43PM

i strongly suggest anyone going long AGQ to throw another 10% at 250 june puts. another haircut like yesterday, and all your losses are covered. no matter how sure you are, no matter how many fundamentals are in your pocket, it's always a solid play to hedge.

jmski52 · May 2, 2011 7:54PM

it's always a solid play to hedge

Respectfully, I think that a hedge position is simply betting against your own position.

DrBuster · May 2, 2011 9:00PM

Down overnight, buying today? The items I put in my cart at provident last week are $100 less than they were Friday.

cohodk · May 2, 2011 9:07PM

give you guys credit who can go to sleep at night being down 10-20-50k in your trading accounts. I don't know how you do it.

The trick is to not be down 10-20-50k. One cannot be so arrogant to believe they are always right and sit with a losing position. I take hundreds of SMALL losses every year. Unfortuately, many good traders turn complacent in raging bull or bear markets. Personally I HATE the move silver made since Jan as there were relatively few trades to be made. It was a buy and hold market--very boring for a trader. But now its getting exciting.

cohodk · May 2, 2011 9:08PM

<< i strongly suggest anyone going long AGQ to throw another 10% at 250 june puts. another haircut like yesterday, and all your losses are covered. no matter how sure you are, no matter how many fundamentals are in your pocket, it's always a solid play to hedge. >>

Indeed. AGQ is a potential widow-maker.

miklia · May 2, 2011 9:33PM

jimski, normally I agree, but with the multiples wonder of buying puts in an ultra ETF on a highly volatile play like silver now, you can secure all of your gains if there's a price drop (without liquidating your position for cash), and secure 90% of your future gains from here if the price continues to rocket higher. if silver does take that rapid 30% haircut that some are claiming, those AGQ puts will be worth at least 500% more than they are now. sounds win-win to me.

DrBuster · May 2, 2011 10:10PM

Well, probably shouldn't have, but just pulled the trigger on a little something from Provident. First order with them.

akuracy503 · May 3, 2011 2:48AM

Not even a thank you, no wine no dine, I am humbled

CaptHenway · May 3, 2011 5:41AM

No guts, no glory!!!!

Meltdown · May 3, 2011 5:57AM

I bought a Mother's Day art bar ingot today for $44.

CerealSpiller · May 3, 2011 9:15AM

I just bought today's dip. Eleven 10 oz generic bars at $41.30.

ormandh · May 3, 2011 10:01AM

Really, I think that we are seeing a correction. It would not surprise me if it hits $35 or a little less. Where it goes from there though, I have no idea.

-Dan

CerealSpiller · May 3, 2011 10:15AM

<< Really, I think that we are seeing a correction. It would not surprise me if it hits $35 or a little less. Where it goes from there though, I have no idea.

-Dan >>

Of course we're seeing a correction. I hope I bought at the bottom. Just watched Schiff's latest video and he's saying that he believes we're seeing the bottom of the correction and now is a good time to get back in. I hope he's right...again.

Schiff Video

MsMorrisine · May 3, 2011 10:17AM

anyone remember when silver was $48?

Friday?

renman95 · May 3, 2011 10:32AM

<< anyone remember when silver was $48?

Friday? >>

I remember it well. A friend and I sold some on that day. I called him a week earlier and said we need to take some profits at an upcoming local coin show. It was great timing...110% luck.

RedHerring · May 3, 2011 11:10AM

<< Really, I think that we are seeing a correction. It would not surprise me if it hits $35 or a little less. Where it goes from there though, I have no idea. -Dan >>

That's the low point I'm betting on and hopefully not before this summer! $35 and if there's not support there, it will be an ugly ride under $30.

Still feel we'll breach $50 later this year.

Casey · May 3, 2011 12:29PM

I sold my SLV on Friday at 47 after getting in at 17. Quite lucky. Keeping the physical stash intact for the long term. I'm sure I'll be back in for some more at some point.

Anybody buy the dip?

Comments