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Silver Wheaton Corp. Message Board

  • jenthico jenthico Apr 20, 2006 10:54 PM Flag

    Don't know who it was, but someone...

    ...here said I was premature selling the May 12.5 calls against my SLW position earlier this week; I responded by we shall see. Well, not to gloat, but we have seen. Today, I was able to buy back those calls at a profit and sell my whole SLW position at a profit; albeit not the profit I was looking for, but a profit just the same. I will be buying my whole position back PLUS when PoS stablizes, but since tomorrow is option expiry, it will probably be next week sometime, hopefully in the high 9's. My previous avg was $10.50 and I hope to get a lower avg this time around as I think this stock is 'tits.' Even if I do miss out this time around, I won't miss out on the silver bull as I have enough CDE to participate.

    I went through this same thing in Feb in AUY when PoG peaked and got stung without any powder and had to hold until the dust settled and PoG moved back up. I swore after that bloodbath and painful wait that I wouldn't let that happen again. I still have a core in AUY with an avg of around $9.40.

    The name of MY game is buy low and sell high and I have to stick to that strategy since I am usually margined to the max. Had I listened to some on this board, I would be getting margin calls.

    glta and stick to what works for you, but don't bash those who know how to make $$$ on the swings.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I'm 100% cash right now. Didn't have to sell, but wanted to be 100% cash. Made a couple of trades today that put me at 50% on yesterday's close. Had I held today's trades, I would've gotten margin calls with AUY and SLW down a buck.

      Took me 2 months, but I finally did it and hopefully at the right time to get back into the game. At some point, maybe now (or soon) I will buy and hold for the next leg up and the BIG move. Summer's coming, though, which may not bode well for PMs, so who knows; I might be 'swinging' all summer long. But I definitely hit the rhythm this time around. I do have an itchy trigger finger though and am working on my discipline; just don't want to be left out.

      I watch, HUI, XAU and GOX, the 20 and 50DMA's, RSI and MACD. Oh and of course, PoG and PoS.

    • I agree with you 100%, I got hit last year by POG too and it sucked to wait all summer and doing small trades. This time I'll trade in and out if I can do day trades then even better but always short term especially when metals are over bought like silver was. Better to take a small loss even then get stuck in a position and be down 10000s of dollars and wait for things to turn around.

      I find that SLW has many good opertunities to get in and out and make money on daily basis without risking too much. SLW was heading down and only thing that helped it to move up was the PoS and the earnings now that's behind us this stock might move lower yet. PP that was down a month ago screwed the stock, IMO the underwriters usually if not always push the stock down after financing.

    • We share the same trading style and I am now where you were with AUY. Never had a margin call but I am currently down 10 g's on today alone. Fortunately Ihave alot of margin to trade with and I plan on making a good deal back on nice 10 to 20 cent daily swings, then the ride back up will be killer too. There is money to be made on these corrections even if you are not short. Wonder how long I have to wait until I'm green on what I'm holding though. I'm in 10k shares at an average price of 11.13. How long did you wait on AUY?

      • 1 Reply to paulryan332000
      • Whenever PoG topped out in Feb until the DEZ deal was done; a month and a half. I would sell into strength and buy the dips, rolling out my expensive shares and making sure that a sell was more than a previous buy to work the margin down. But it was excrutiating making trades on 20,30,40 cents profit. I have a good cheap core now, so I am still showing green (even after today) on my total portfolio, but I am down in CDE - and now no SLW. Cash rich and no margin now, with my finger on the trigger waiting for more AUY and SLW. I also sold the July 12.5 against my AUY to help work down the margin which is why I want more cheap AUY just in case those get called.

        good luck

    • thurston_howell_the_terd thurston_howell_the_terd Apr 20, 2006 11:43 PM Flag

      Whats up with AUY? Its seems to have not participated with the rest of the miners the last few weeks. I like the company but the stock has been behaveing badly.

      • 1 Reply to thurston_howell_the_terd
      • Not really. It went from the mid $8's to the mid $11's and rested, then slowly trickled down to where it is now. The spike came after the DEZ deal was done and it caught up with the PoG and that was it. I think what happened is that the run to $600 PoG was so fast that people were wrought with disbelief and waited on the sidelines to see if it would hold. That and some more MA hanky panky has the investment community waiting in the wings, as well as more exposure to the day traders; it has been getting a lot of press lately. No worries, they just expired their debt with another dilutive warrant offering. Another acqusition I'm sure. If you have ever weathered a comapny that is in MA mode, the stock just sits until it is all said and done. The warrants have a strike price that is highr than the SP is now, so that is the good news. It is a long-term hold, but will be a BIG miner in short order; along the lines of NEM which is now in the $50.

 
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