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Silver Wheaton Corp. Message Board

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  • datbehardwork datbehardwork Nov 2, 2010 11:51 AM Flag

    Taking some money off the table

    Yes, but got a bad feeling about FED screwing the whole thing up with QE2 being QE super light and the whole precious metal group tanking, while FED buys securities to support DOW and S&P.

    I've been a gold bug for 7 years....I'm very leery:)

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    • datbe: "Yes, but got a bad feeling about FED screwing the whole thing up with QE2 being QE super light and the whole precious metal group tanking, while FED buys securities to support DOW and S&P."

      I'm with you. How can Geithner go to the G20 and tell everyone we will not trash the dollar and then Bernake come along two weeks later and blatantly trash the dollar announcing a large QE2? It would seem to make sense for Ben to use language of being very light on QE2 and then continue with a stealth money printing program that is moderate to heavy. It won't work longer term of course as the foreigners are watching closely but it will give wiggle room here at home.

      I lightened up this morning on SLW and SIVR. Now the rumors about Asians buying physical to squeeze the shorts will probably come true driving a huge spike up with me sitting with 40% on the sidelines.

      • 2 Replies to victoriaemily
      • Victor, I think Data hit the nail on the head suggesting QE2 may be QE Light. Tomorrow we shall find out. If Data is correct, then SLW might finally correct somewhat. I would certainly welcome an opportunity to start buying more SLW below $28.

        Being a long term holder of SLW in today's failing fiat world makes imminent sense and cannot be criticized. But one becomes almost bi-polar holding steady with this stock, manic/happy on up days and depressed on significant down days. On down days one always questions whether he should have foregone those lost profits by not selling the stock and buying back at lower levels (short term trading). Obviously, there have been more up days than down days during the last 3 months which also might suggest the stock is getting a little stretched. We should see an outstanding quarterly earnings report which probably has already been valued into today's stock price.

        However, trading for short term gains can cause some mental bashing of oneself. If you sell and the stock goes lower presenting excellent buy back value, you can pat yourself on the back when buying back at lower prices. But if the stock goes up after you sell and you see that you are foregoing profits, you beat yourself up.

        I lightened up considerably yesterday at about the current price. SLW may head a bit higher than $30 but I now seriously doubt it can hit $31 before Bernanke's announcement tomorrow. If we are correct in the assessment regarding a disappointing "QE Light", then I think we shall be rewarded. If not, hopefully we all hold other PM investments including physical that will enjoy the continued ride up.

      • Thanks, Been screwed so many times by sitting tight I had to pull the trigger on some hefty profits.....heck, I can always buy back in when it runs again:)

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