Some here trade in and out, others are longer term investors, and still others do a little of both like me. Most longs here seem to agree that as long as our government chooses to continue to print money, silver prices will rise over the longer term. But the prices of silver and PAAS will not rise every day, and some price swings in both silver and PAAS can be quite wide. What I like about PAAS is that I can rely on it's management to look after it's shareholders, and should the stock price dip lower after I purchase it, I will sleep well knowing that the stock price will eventually rise above what I had paid for it. Today may be one of those days To do some buying. SS
Thanks for your kind words of encouragement. I really resent being called a liar. People who know me, know that I'm a man of my word. I make plenty of mistakes, but when I claim that I made some trading profits, I am stating the truth as you well know. I respect many on this board, and you and Carl are at the top of my list FWIW. SS
Seasoned, you are far too polite in dealing with dfuchsll and iittsee. Birds of a feather, flock together. Always consider the source. When you are dealing with chaff, remember it is always directed by the wind.. and changes course and character, accordingly. To my way of thinking, these two are always legends in their OWN MINDS.
'Selling some stock while holding additional shares is not a contradiction, nor does it make me a liar'
I do the exact same thing. I may buy some shares with the intention of flipping the shares. I just feel I cannot figure out the daily swings because the federal government is flooding the money market with credit. Today the president stated he will sign the 300 billion mortage bill. That law has a provision for local governments to fix up houses. That is wonderful but the houses are owned by the banks. Why are we giving money to the banks. I suspect what we will end up with is millions of more section 8 houses which will required billions of more federal aid to keep. It is in my opionion just a huge welfare creation project.
I would rather see the houses that cannot sell to be knocked down and made into a park rather than looking for someone to occupy a house paid for and maintained on my tax dollars.
If you've been reading all of my posts, you'll learn that I hold core positions in PAAS as a long term investment, and also swing trade additional shares. Therefore, I will frequently be selling some shares while holding other shares as a longer term investment. Selling some stock while holding additional shares is not a contradiction, nor does it make me a liar. I suggest that you read someone's posts more carefully before accusing them of being a liar. Just because you fail to understand another person's approach to trading/investing, is no excuse for making accusations that have no merit. SS
If you think that I'm a liar, there is little that I can say or do to change your thinking. But I know that I have nothing to gain by making claims that are not true. I have lost money on many trades and am willing to admit it. Often I'll sit on paper losses while I'm making other profitable trades. I screw up plenty, but that doesn't keep me from trying to maximize my returns. I attempt to share my trading experiences in the hope that others may learn from them. I've been swing trading much longer than most people who post on this board. That doesn't make me an expert, but I believe that my lessons learned may be of some help to others. One thing about buying PAAS. Even when the stock price drops below what you've bought it for, if you wait long enough before selling it, you'll never lose money. Think about it. BTW, I'm still holding some PAAS stock that I bought for $38.60 back on 4/21/08. I plan to sell it some day at a profit. Peace. SS
'My swing trading won't work forever.'
I rarley post, but you keep talking about your swing trades, as if you sold yesterday, and rebought today.
But IITTSS brought up a valid point this afternoon, you seem to ignore!
My swing trading won't work forever. So far I've been very lucky to have sold near the highs and bought the stock back near the lows. I did this again by selling yesterday, and buying back today. But one of these days I'll have sold, and the stock will continue to move up higher and higher without me. Of course I'll still be holding my core position, but I know that I'll be very frustrated about having sold my trading shares and miss the big ride up. Sinclair, Hamilton, and other pros remind us that silver and gold prices will, over time, become increasingly more volatile and will rise parabolically sometime in the future, just as they did back in the late 1970s. As the price rises become sharper, swing trading in and out will become much more difficult. Some day I'll have grabbed a profit, but will miss the opportunity to get back in. Those holding long and strong will be making a killing. But for now, it's very compelling to try to catch those swings. SS
" Yesterday we witnessed both spot silver and PAAS move much higher. I took some trading profits in both PAAS"
Kind of contradicts what you said at 4am this morning:
"Therefore, in spite of the powerful upward move of PAAS yesterday, it's price should continue to move much higher again today. Shorts have been taking a beating, and I trust that by now all of them have covered. I plan to ride this horse as long as it wishes to run. We could see record new highs for both silver and PAAS before too long. SS"