SLW $29 to $44.50 in weeks - I'm Out!
Call me an idiot, but I am happy with SLW profits.
Waiting for next dip (and it will happen!) to repeat (maybe low 30's is good enuf for entry).
Picked up some march 55s today on a whim. If anything of significance happens in Saudi Arabia it will definitely be a gamble that pays off.
Stepping out now seems a little premature. If you were that worried you could just put some tight stops to protect your gains...
I don't agree with the sentiment that "there is nothing wrong with taking profits"... It's like using the argument that getting 1 dollar and 10,000 is essentially the same because both are profit. It doesn't make sense to take 1 dollar over 10,000 dollars, and it definitely doesn't make sense to sell a hot stock with a tremendous upside opportunity and minimal downside risk.
The mistake I made was cashing out of some calls at "only" a 110% gain in 5 days. If I held on 3 more days I would have been looking at about a 200% gain. Will reload if any kind of decent pull back at all next week. Oh well, live to fight another day. SLW will make us lots of money this year and beyond.
Ihave sold 4000 in the last 2 months wish i didnt every time i sell some afterwords the price goes up.Still have 2000 i would think about selling at 60 but not sure about that.Iknow those guys who sold at 25 thinking it went there to fast and thought they were going to get in at a lower price are still mad and upset.Earnings say everything good about SLW.
You are forgetting the first principle of successful trading: let your winners run and cut your losses.
I would neve sell a winner. You simply need to move up your stop loss or buy puts.
I don't see an equities sell-off, not with all the good news out recently. This stock has some room to move if Silver keeps moving. Today was big disappointment, we should have moved 4x today's gain.
I expect a significant, close to 30-40% sell off in the price of silver by September. I would certainly sell into strength.
Disclaimer: I hold physical silver which I bought on a cost basis between 8-13 and gold at avg. 540. I would not trade physical and that I hold. Paper positions I definitely trade and I'm very cautious given how optimistic too many people are. A sell off in equities could hurt silver prices...which could be a double negative for SLW...
I've never been one to leave a good party early. I always stay until the party's almost over, then I depart. At least you'll get a good nights sleep not having to worry about all the money you would otherwise have been making.
NO ONE ever lost money taking a profit. What good is another five bucks if you can't sleep.
Still, there was another way to play. You see those options to own this stock on the options page? You could have sold a March 19 call at 45 for about $1.60 and sat back, been called away if you were wrong, and kept $46.70, or, if the stock slipped a bit, been "insured" for about $1.70. That call is disappearing 12 cents a day in your favor, even if the stock never moved.
It's a strategy worth contemplating.
I normally don't write about SLW. I bought Silver Wheaton almost on the first day. I didn't buy a huge amount but I liked their idea. I made some money and then it started to fall back to 4.00 dollars. I bought like crazy at that price. It took a long time to see what happened today. IMHO, THEY ARE NOT NEAR THE END OF THE ROAD. So many people have forgotten that the US Currency will fail. You can not have the hole we are in as a country. We are going to depend on Gold and Silver, etc after the dollar fails. We may well be spending silver coins for food and fuel. Silver Wheaton will make us well off enough to start moving into Physical Gold and Silver i.e. the real money.
Do any of you believe the US can get out of a 50 Trillion hole?
Physical Gold and Silver will be used after we tank. But you can take your SLW out in the future and buy Physical Silver and Gold. The TIMING will be the key, IMHO...
this thing will turn around when 2 things happen... both must happen before silver and gold turn... 1) the fed lifts interest rates to or above their manipulated .whatever % they are now... 2) people have to (at that time) be convinced that the US and the global markets are safe... that the govt is doing the right thing and inflation is not going to run us all out of house and home... i'm long and adding on dips... gl all longs