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Silver Wheaton Corp. Message Board

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  • yourdeadmeat69 yourdeadmeat69 May 1, 2009 1:50 AM Flag

    Question for YDM

    Thanks for the url. I don't know Douglas' track record, but he indicates he's got a source for who has been buying summer, and dead of winter December calls, and it is the same banks who manipulated the market last fall as the world fell apart. There seem to be multiple conspiracy theories at work here, this time to bring silver and gold futures upward and onward.

    There is no question, that there is a huge resurgance in call POSITIONS, and there is no reason to believe the big boys get it better than anyone else, unless they're manipulating again.

    There is evidence to show that the manipulation is up, but everyone needs to know, we probably will get a third test of the bottom of the market, not just because three strikes and we're out of the woods, but a genuine pin in the balloon kind of revisitation to gloomy indicated by a much anticipated delay, in the much anticipated recovery touted as second quarter.

    I think call buyers therefore, got it early. I think the next wave down could take us back to the 6's, and at least the Fed seems to have woken up to the fact that the stress test results may be that pin, on top of 2/3 the big three going BK, dragging the rest of the nation and all those suppliers into the toilet with them.

    So the Federalistas have made a decision to withdraw the pin till the end of the week.

    Check this out.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aVlgKH_MT_mo&refer=home

    We get to sweat all day today Friday, and all next week, in anticipation of bad news overhang, which is gonna be just a great millstone around the neck of the general market.

    That may not be a pin, but sure could mollify the intended leak earlier this week that five to six of the 19 banks are in trouble.

    As to option investment, have at it, but I NEVER buy calls unless it is a deep in the money leap, for which to sell covered calls against with earlier expiration periods.

    Earlier this year, you could have bought a SLW June 5 for near parity, and sold your earlier calls at 7.5 for a fifty percent play.

    Bottom line: There is evidence to show, according to the CEO of Minyanville, that this market is a W, and we are now at the peak of the middle of that W, awaiting the next shoe to drop.

    It was going to be the stress test in my opinion, as I have stated before, much as I screamed and ranted that Greenspan, by raising interest rates in 2005 was going to strangle the economy.

    If you remember, all my posts at that time were removed....

    So here's the game for me.

    I bought back my Sept 10's about two weeks ago for about a buck, and sold 7.5's for about $1.43 when SLW was $7.41. It's 25 pennies later, and they are "still" at $1.43.

    If we take a hit, and those calls drop to a buck, I will reel them in and sit on my hands, if the market sells off and wait for the dead cat bounce to sell either the $7.5's again, or December 10's.

    I will miss a lot of runup, but unlike you whippersnappers, I can't afford to take a hit off my IRA. I am literally eating that money, and don't plan to skip meals in my dotage.

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    • Thanks for the guidance Meat - with POS at $12.25 this morning, I think I'll grab some more physical.

      Something tells me that pretty soon everyone will be wondering why they didn't load up at that "no brainer" price, and that POS might not "trend" up, but SHOOT up rapidly.

 
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