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Silver Wheaton Corp. Message Board

  • gpawx3 gpawx3 Jun 21, 2007 12:27 PM Flag

    I'M DONE WITH PM STOCKS

     

    For an entire year now, PM stocks have been a cash vampire. I like holding physical metals for insurance against a crisis, but the paper, I am done with it. It is a losers game. The winners are the shorts and the gold letter writers and PM websites. Good luck to you all. I'm going back to oil where I belong.

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    • I also sold SLW today.....just can't take it anymore. They beat me down today. I am done with PM stocks for now. The last year has been terrible. No one is making any money unless you are a short-term day trader.

      I am a buy and hold investor, and I don't have time to follow daily bollinger bands and the 50-day mavg dips. I want to buy and hold a stock that will move up.

      SILVER AND SLW IS STUCK IN A CHANNEL; OR WORSE, IS STARTING A BEAR MARKET TREND.

      Good luck to everyone in their trading; especially for those choosing to stick with SLW. You will need it I fear.

    • "For an entire year now, PM stocks have been a cash vampire. I like holding physical metals for insurance against a crisis, but the paper, I am done with it. It is a losers game. The winners are the shorts and the gold letter writers and PM websites. Good luck to you all. I'm going back to oil where I belong." You are being "punked out" at or near the bottom. If you feel you know oil best it would be wise to be there rather than here. Old Warren B. says to invest in what you know.

    • This stuff is not for trading. Its buy and hold for the long term. You have to have an iron stomach. Take for instance today. The market should be all rights be tanking heavily based on the economic news. But after it was evident the market was going to go down, someone stepping into the futures market and foced a turn around. "The invisible hand"? Who knows. But it should be doing bad and its up. The dollar is being supported despite all logic. Thus its bad for gold and silver today thus the downturn on SLW. Buy and hold PM's and don't look at them on a daily basis or you will go nuts.

      • 1 Reply to jorgef176
      • PMs are excellent for swing trading. They're good long term as well but better for short term trades. SLW looks like it's trying to take out highs and it's been hanging in there quite well despite the weakness in PMs.

        As for USD, well it's hard to say why it's moving higher when it should be falling. Possible that it's being propped up by other CBs or that it came close to all time low and bounced. Could be that other CBs are inflating their currencies which is another problem that might occur. If Euro moves too high they will start printing paper to lower it's worth and thus USD might gain some. With time PMs should move on their own but that will still take some time.

 
SLW
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