i wish i had sold at 20 but sold last thurs at 19.25. watched anxiously as gold went up ah and then in horror the next day when slw smoked upward. but now back in today. hoping not to be too early
you could have said that about dndn, when it went from 3.00 to 27.00, better sell or you are greedy, but now it is over 50.00 a share. SLW at 20.00 is still cheep and so is silver, talk about greed when silver and slw go over 50.00.
SLW has outperformed my other silver stock holdings recently. It rose 11% over the past five days. IMO it was time to lock in some profits today which I did. Should we experience a selloff, I'm prepared to buy back the shares that I just sold. TIf silver prices continue to rise I'll benefit from the SLW stock that I still hold as well as from my positions in four other silver mining stocks. I'll never go broke taking a profit! SS
My focus has been biotech. I bought DNDN again on Tuesday. Having 2 or 3 different positions in SLW is fine, but I never put all my eggs in one basket. That golden rule is only second to never buy on a fast upward spike. There has been some hot bios, medical, solar, internet, communications, China and energy plays this week. Several more bio plays to come, some will 2X and a couple will 5X.
If I sell short, I pay 39% in short term capital gains. That's a huge hit. I did sell a number of stocks last year, prior to owning them for a year, and that paid off incredibly well (CDE at $22.25, for example). For those in the same situation as I am with LT cap gains, does that lead to you holding a stock for at least a year, especially a great company like SLW (as opposed to CDE)? Thanks.
I was in the same boat this year, My tax advisor/accountant did miracles for me on my 2009 tax returns. I still had to pay quite bit, but not nearly as much as I would have had I not been able to write my trading and other investment activities as a legitmate business. Now I just soley write cover calls/puts in my Roth Ira.
You want to sell and still profit from the advances a bit?
The stock is at 19 ish.
You have 10,000 shares.
Sell a May 19 call for 1500 shares/
Sell a June 19 call against 1500 shares
Sell a Sept 20 call against 2000 shares
Sell a Dec 21 call against 2500 shares
Sell a Jan 20 call against 2500 shares
Sit on your hands. Keep the 20% in cash in your pocket in PHT bought just after they declare their dividend, about four days after.
Till Sept ish.
If the market tanks a bit in September, buy October calls with 1/2 your mad money you've created from call sales. You've already made about 10% more in dividends on PHT or PHK.
As the stock is called away from you, work whatever makes you comfy with the cash, including nada.
What I have done is have my major portion long and find a trading range with what I have left. Made a killing this way. That way its a Win-Win situation. If it goes down, I am happy and if it goes up, I am happy.
exactly. Keep a core position, 500 shares, 5000 shares, whatever you feel comfortable with. Then keep a trading position. Trade and take profits with the trading position.
If it goes down/up/whatever you feel good.
90% of people get burned this way. I remmember posts on this board:
"it's becoming bubble, sold at 16, will get back at 14"
Aha, how stupid do they feel now?!
SLW is buy and hold type. Silver price explosion an peak stream production is stll ahead. I'll consider selling my shares, when silver at 80-100$ per oz.
I been watching this since late 08, when it was around the same price as Auy gold stock, and it has out pace any other gold stock w/ exception of a view like tck. I've been reading a book by Michale c. thomsett great book. Anyways i've learned you don't always have to take profits. Just write the cc , sell the put. Then buy the call option at the bottom or near, or just add shares or do both. GLTA LONGS