Son of a ....

BigMoneyLewis

It takes MONTHS to acheave the gains and it all goes down the toilet in a matter of HOURS .
It's May 1 all over again ! Aint that something! ?

Lewis

guitarwes

EVERYONE saw this coming this week, why are you the last to know?

Barndog

<< <i>It takes MONTHS to acheave the gains and it all goes down the toilet in a matter of HOURS .
It's May 1 all over again ! Aint that something! ?

Lewis >>



it takes seconds to ACHIEVE gains. Gains are never achieved unless one sells, right?

guitarwes

What he's sayin' is if you ain't plannin' on sellin', you ain't lost nuthin'!

Konahead

No it took years and the ones who have been riding this up see this a another bump in the road and chance to add to the stack. If you can't stand the swings you should not be in the park.

morgantype

You can't take a percent to the bank!

BigMoneyLewis

Most of my silver was bought at $ 7 an oz , so I am still in the gravy , and have no plans to sell, at any price , but it stills
stings to see your "net worth" drop so fast .
When your worth drops tens of thousands of dollars in one day , it kind of stings.
It will take 6 months to get back to where we were 6 days ago.
I have strong hands, and have never been tempted to sell an ounce .
To build an empire, you have to be left holding the metal, not the paper .
When you sacrafice and work toward building an empire for years, you feel good when the price rises,
and you feel a sense of satisfaction because you know
you did the right thing .
When some jackleg investors have a massive selloff of their paper contracts, and it
causes your physical stack to loose much of it's hard gained value almost in the blink of an eye,
it makes you feel sick. All your friends and relatives will say "see, we told you it was foolish to buy silver"
Your only response will be " You just wait 6 or 12 months and I will be right back where I was last week !"
I am in this for the long haul , but days like this hurt because , If you have been doing this as long as I have,
you know it's a long uphill battle to recover .
It's sort of like coming out of the grocery store and seeing a long scratch in the side of your car .
Sure, you may say , "your car didn't loose any value untill you go to trade it in " At that time the dealer (or prospective buyer)will
use the scratch as a negotiating point to give you less money for your car . So you see, untill, or unless you sell, your car is still worth
the same , scratch or no scratch . Well, that's just not true now is it ?
Weather I am selling silver or not , my silver just became worth a whole lot less .
And that doesn't amuse me very much.

Lewis

jmski52

Lewis, I understand exactly where you are coming from. However, your position in ounces has not changed. Nothing else has changed. Don't focus too much on unrealized gains.

DoubleEagle59

<< <i>Lewis, I understand exactly where you are coming from. However, your position in ounces has not changed. Nothing else has changed. Don't focus too much on unrealized gains. >>



Exactly!!

Focus on your quantity of ounces.

Lewis, you lost NOTHING today because you still have the ounces and aren't planning to sell for a long time.

jmski52

And Lewis, for the most part - I assume that you have enough of an asset base that you can pick and choose the time of your selling, i.e., you can pick your selling price when the time is right. Correct?

fishcooker

"You haven't lost because you haven't sold." I'll never forget that one. That's what the pro-Stock types told investors in 2001.

mariner67

<< <i>"You haven't lost because you haven't sold." I'll never forget that one. That's what the pro-Stock types told investors in 2001. >>

BAJJERFAN

I thought you were gonna say sonofabetchyu thought I was gonna swear didn't ya?

iLikeBustCoins

But will it go back up?

delistamps

<< <i>When your worth drops tens of thousands of dollars in one day , it kind of stings.
>>



How many people in our nation only dream of having a worth of tens of thousands of dollars?

Baley

When some jackleg investors have a massive selloff of their paper contracts, and it
causes your physical stack to loose much of it's hard gained value almost in the blink of an eye,


Isn't it amazing that the price increases are "hard gained value" and the declines are due to "massive selloff of their [jackleg investors] paper contracts?

Reminds me of the college student who had to repeat a course because "the professor gave me a D" but when he repeated the class the next semester, "I got an A-"

NumbersUsacom

<< <i>Isn't it amazing that the price increases are "hard gained value" and the declines are due to "massive selloff of their [jackleg investors] paper contracts?

Reminds me of the college student who had to repeat a course because "the professor gave me a D" but when he repeated the class the next semester, "I got an A-" >>




OK get your meaning, but I do have to admit that the chart pattern that the last two days created do appear odd even for Silver. The moves in some of the MA's also look

abnormal. And I'm comparing chart patterns going 30 yrs back. what many others have said about the trading abuses (particulary in Silver) may have significant merit.

BUY BUY BUY !!!

BigE

Lewis, recently I was forced to sell 10 ounces of gold, and I mean forced. I HAD to sell in order to pay for medical treatments that might save my life. I had always been accumulating-just like you. This is what it took for me to sell a small percentage of what I had. Sell or die basically I got 1777.00 an ounce, and waited at the coin shop until I got exactly that lucky number, just didnt want to forget the number.

I learned something though, for some reason it makes you feel better if there is a correction down the road, if you sell a little when you or yours need/want something. You wont kick yourself when prices go higher because you have plenty, and it mellows things out if prices go down. I dont think we have to worry that selling will become a habit!

So when metals start to shine again, go ahead and take a little bite out of the cake-believe me it wont hurt and it actually feels OK---------BigE

jmski52

I've been listening to various commentaries tonight, and I can't believe the weeping and gnashing of teeth coming from people who have money in the stock market because of this weeks' 700+ point drop.

This is exactly the kind of public pressure that I expect will put politicians into the untenable position of having to "do something".

I expect the decibel level to rise next week, because I'm not sure where the much-needed shot in the arm for the economy is going to come from.

Well, all I can say is that I'm sure glad that Greece won't default.

cohodk

the chart pattern that the last two days created do appear odd even for Silver

The chart pattern during the entire month of April didnt appear odd?


Once you have looked at 100's of 1000's of charts, you will realize that there are no odd patterns. They are just patterns. And they very often develop and evolve similarly.

Believe me, I know this market sucks. I been through this many times and is why most of my posts express caution and are aimed at restraining enthusiasm. I've seen people of nearly retirement age turn their 6-figure accounts well into 7-figure accounts, only to become 5-figure accounts a year before retirement. The emotional impact for some people is devastating. Its ugly.

lightcycler

I posted the following on another site mid may of this year. For me this was expected and anticipated and there is no conspiricy or anything of the like. Just a normal progression in a bull market. Once this bottoms there will work to be done but soon it will be blasting through 50 on the way to a much higher number. I still hold to the 26 to 30 target for a bottom.


05-13-2011 11:21 AM#15
lightcycler
Found a gold nugget Metal Miner


Join Date: Dec 2010Posts: 387Thanks: 57Thanked 67 Times in 61 Posts


Re: Gold and elusive Elliot Wave


Certainly in the correction and Wave A down appeared to be 5 waves and B up in progress? So it would appear that we are in a zig zag correction and 26.37 the ultimate target.

TwoSides2aCoin

I don't know about all them numbers, waves, charts, comparisons, theories or anything else.
Some predict a gain, some prognosticate a fall. Some just swim. Not too many who hold it, sink !