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I'm long 10,000 ounces of silver - someone make me feel better about Monday!
jmlanzaf
Posts: 32,298 ✭✭✭✭✭
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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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...
You'll never make spread on physical
Too bad you didnt buy oil.
Knowledge is the enemy of fear
Future contract. I really was hoping for a near term bounce.
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
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.
Wasn't there a drone attack some where in the middle East? Chaos for profits?
Iran v Saudi Arabia
No retaliation so far
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.
Gutsy play. Good luck.
If you don't lose sleep...you went too small.
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.
No. I know rule #1. But just because I could afford to lose money doesn't mean I WANT to lose money.
Maybe. Although i'm not sure that it will even move oil markets much less PMs.
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.”
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
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/
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.
I'll still be long 10,000+ after Monday. Feel better?
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi Nakamoto
A Pile of Silver = Sleep well my friend.
100% Positive BST transactions
Maybe. Although i'm not sure that it will even move oil markets much less PMs.> @derryb said:
I don't feel worse
Monday is meaningless. Sunday at 7 PM EST will tell you the story.
6pm open on futures
Yup. I'll be watching. My orders are already in
Dumdedumdum
What PerryHall said.
you don't become real rich by being conservative, you take chances, ask any Millionaire
Oil futures going to trip the breakers
There you go..up 25c..
But oil up $8.
Knowledge is the enemy of fear
Ask poor people. You might get the same answer
Houston, we have a profit
Down to 5000 oz. I feel better. Lol. And slightly guilty since the Houti helped my cause
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.
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?
Odd isn't it? There is no tragedy in the world that isn't someone else's silver lining.
Up by almost $6.00.
https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html
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™.
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.
Don’t forget junk food/snacks keep the “slim / trim / loose weight” industry going.
And vaping helps the health industry.
And crack dealers help the.......oh, never mind.
.
Knowledge is the enemy of fear
Yup...backed off a bit from the open.
Knowledge is the enemy of fear
Are we not having fun yet?
It's an ill wind indeed, that blows no fortune to anyone at all.
Liberty: Parent of Science & Industry
[yawn...stretch...] ...wh...what's going on?...
Here's a warning parable for coin collectors...
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.
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
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.