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Silver Wheaton Corp. Message Board

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  • wgfur wgfur Jul 6, 2006 11:51 AM Flag

    Just shorted

    And another thing. In March I posted when I shorted, but did not brag or bash once this stock dropped like a stone. I quietly covered and moved on.

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    • Just a reminder, the search feature does work with the new Beta boards, so it's easy to look up past postings by individual. Your first posting to this board was on 4/12. On 4/14, you claimed to have shorted 5000 shares at $12.20 Canadian. It took about a month for you to see any real profit, so when SLW finally started to drop, you quickly covered your position on 5/17. So while you did make some profit on that short, you missed out on quite a bit more profit from the following month's drop. That probably explains why you weren't on this board last month, since you were probably kicking yourself in the pants for not having the true short conviction that it would go even lower.

      So now you're trying another short, and being that it's still summer, you might make some profit on this one, too. But that's the gamble you take when you play the short game - one bad call will wipe out quite a few good calls. That's why most people on this board don't waste time trading in and out. They have the conviction to make one call which is long-term up. They know there will be down periods, but that's just another opportunity for them to buy more.

      • 2 Replies to watadumdum
      • I wouldn't say that most people on this board don't trade. There is some long term investors that won't sell until who knows when and there are traders, be it swing or day traders. Though I don't like shorting I've done it in the past but only as a day trade since that's mostly what I do with SLW as a stock but swing trade the warrants. And this is an excellent stock to day trade.

        And how can you use the "oppertunity" to buy more at lower prices when you haven't sold what you got? Unless you keep putting in money out of your own pocket.

        Different people have different ways of making money and buying and holding long position no matter what isn't a best choice all the time. And if one buys any stock and plans on holding it for years why bother keep posting on the forums since that investor doesn't or shouldn't care what each day brings for he is in it for the long haul.

      • I'm also think that silver is going up long term, that is why I trades silver stocks.

        But to hold slw after it ran from nothing to 12, as silver ran from 7 to 15, and not take profits - well that was just greedy and stupid.

        The smart money sold into the strength and raised cash for the next drop. I sold fr.v, mgn, ipt.v and others once silver peaked at 15. Shorting slw for the drop was just gravy.

        I've bought back into some of my favourite small caps, but would never buy slw.

        GG spawned this thing with a sweet heart deal and now they are trying to find others who will sell them their silver at a 60% discount so they can sell it for market price.

        Silver is money, why any mine wants to hedge their silver by giving it away to slw is just beyond common sense.

        Many perma-bull, idiot longs on this board think silver is going up because it is money, but they own the stock of a company that is in the silver hedgeing business - very strange.

 
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