Wt Silver 2x Discussion Threads

[wizard7] 27/9/2011 08:27

Out for now - any profit to be jealously guarded at the moment and want to see a slap down Tuesday go by before fully committing.

[pimpernel4] 26/9/2011 18:42

Leveraged silver anyone?

[jamesiebabie] 26/9/2011 18:17

I bought first thing this morning.

[wizard7] 26/9/2011 15:13

It all looks bottomish....just scary as never thought we would be here a few days ago.

[eeza] 26/9/2011 15:11

If you draw a rising trend line across all the lows it has fallen onto that line.

[wizard7] 26/9/2011 13:58

jamesie - so is that a buy or not yet??!

[wolterix] 26/9/2011 12:39

interesting, fell out of its diamond

wonder if you will get a bounce here...

[wizard7] 26/9/2011 12:28

As will I albeit it could be a rough ride!

[traderabc] 26/9/2011 12:10

I believe silver should get to $100 in the next 4 or 5 years , perhaps much sooner. However what concerns me atm is just how low it could go in the immediate future, I intend to use a wide stop here (50% ish), my stake is far smaller then yours, so I'll be trying to ride out the downside.

[wizard7] 26/9/2011 11:29

In for 710 shares myself - traderabc do you have an exit target if I may ask?

[wizard7] 26/9/2011 08:45

MOG - you in yet?

[odvod] 26/9/2011 07:54

reasonable buy IMO

[titus10] 23/9/2011 15:54

Yes, traderabc - capitulation selling all round. The early May dislocation of the main up-trend retraced 58.8%; I would expect at least a similar fall for the current leg down (currently -48.8% from the 22 Aug top).

In the 2008 bear market, LSIL lost over 80%. Some say things are different now and that pattern will not be repeated this time. But they always say that, don't they?

We shall see ... I'm not at all sure we shall see 'business as usual' resumed in a hurry. With the tectonic plates of financial power shifting from west to east, perhaps China - some privately say already in recession - may emerge from the storm first. The view that commodities need to fall in price before main equity markets stabilise raises questions about the eventual effect of China's quest to secure such sources.

[traderabc] 23/9/2011 10:58

titus, I bet you're watching this one today ;-)

[wizard7] 23/9/2011 10:56

Scary stuff indeed!

[hectorp] 23/9/2011 10:37

Frightening for those who paid close to $50 for it. But the silver coins are nice to look at. Very tempted to take a long trading position, but will wait until gold turns up.
I believe silver is falling with ( following) copper - showing a purely industrial side. Silver needs to return to its investor face!

[moaningoldgit] 23/9/2011 10:10

Wiz, I'm here lurking as usual.
Just watching at the moment to try and decide if $33.85 (should be support there) is the bottom.
I don't believe this is going to the twentys. Mind you I wouldn't have believed $33 a couple of days ago.
I don't mind telling you I'm a bit frit of dabbling at the moment.

edit: $33.85 gone.
edit again. chuck the charts away.

[wizard7] 23/9/2011 09:05

MOG - you out there - tempted - I wasn't expecting to see this level again. Would like to see a decisive turn up before having some though as Sahara's chart on the RU thread had a poss downside of $25. That would be a bet the house scenario...

[traderabc] 25/8/2011 11:49

Phew! I'm glad I got out of this one, I'd be here fuming if I hadn't as there was little excuse to have sat here and watch that profit evaporate yet again.
Like I said before I find it easier to enter a position then exit, but this time it isn't going to be as easy as the last time. I'm looking for Gold to stabilize and find a support level for a start. If you take on a position here Titus please post to let us know.

[titus10] 25/8/2011 09:55

Traderabc - Good timing! It so often pays, does it not? to act when doing so feels queasy...

These are clearly difficult times for trading, when probably prudence is the best tactic. Precious metals have been short-term overbought, so a correction is not surprising and key reversals here have been rather emphatic.

Further out, it's difficult to argue against the somewhat dire global economic picture in this much-delayed Kondratieff winter phase, or against the attraction of a reserve marker like gold. PMs were the place to be following the last major western countries bear market in the 1970s and that super-cycle could be repeating presently, however different the scene may appear.

I'm holding my un-leveraged Gold longs during this reaction and would add if/when they look like bottoming from the present down-move. And will watch for the opportunity to re-enter LSIL if it gets sucked down in the PMs down-draught.

[pelleeds1980] 23/8/2011 18:40

Lucky escape - got out this morning, should have sold out yesterday, was expecting a decent run on Silver but sadly another false alarm

Always the bridesmaid recently!

[traderabc] 22/8/2011 09:45

Titus, thanks for your comments. My nerve has gone with regard to LSIL, I've panicked and sold out of this holding 5 mins ago. Undoubtedly I'm too early and this will soar (further) My un-levered holdings remain.

[titus10] 19/8/2011 16:52

Trader, I would agree. It's a matter of time-scale, of course: what length of cycle you regard as appropriate for your purposes - e.g are you an opportunist position trader, in and out on minor moves, looking at intermediate-term, or a buy-and-hold core investor?

I believe you already hold various Gold ETFs in a SIPP or whatever, which I would think is wise as I don't reckon the eventual bubble in Gold is nigh.

Silver might be regarded as "high-beta Gold", i.e. more volatile, so a shorter-term view is probably appropriate at this time. The glorious spike in Silver in the 1970s is a happy memory for me, but it's not trending right now, so FWIW I'm sitting quietly in gold shares and ETFs for now, and out of silver, but watching because if a full-blooded cyclical bear market in world-wide equities does develop, as I think it could before one is much older, there'll be plenty of money around looking for a new home.

Short-term, precious metals do look over-bought, so taking profits in your LSIL may well be prudent. Put another way, I'm not jumping in again now, as it accelerates up (a sell indicator!). My general UK equity and bond portfolios are now almost fully hedged in derivatives.

I'm not panicking (yet), but they do say if you're going to panic, panic early...