I've been in and out of AGQ since last August ($87/share) and I couldn't be happier with my gains. However, I'm seeing just as many news reports of the silver bubble and impending collapse as I see ones that see silver going to $125/oz.
I've been pulling out my gains here and there, but am wondering if anyone else is doing the same or hedging.
I've never been so confident in any investment. Suggest you read Ted Butler or James Turk. When the manipulation by JP Morgue and the U.S. government finally stops, silver prices will go parabolic. I don't think charts, moving averages, etc. have anyting to do with how silver will perform over the long run. But then as you will notice, I'm irrational.Good luck.
Am I nervous? Nope. I just bought more AGQ this morning at 313.5, and I will sleep well tonight even if it slips a little today (which I don't think is going to happen).
Here's the deal, there will be no "correction" until the end of this run. We are in the final stage where investor sentiment turns absolutely illogical, and consequently, so do the technical indicators that most "experts" rely on.
I will be hedging my profits anytime silver shows a negative move over a 2 week time frame buy acquiring an offsetting number of SLV puts 10% out of the money with 3 months to expiration. When things start to go the other way, they are going to do it quickly. No sense in being greedy. Hogs get slaughtered and all that.
Is silver overbought? Hell yes! Are investors done buying? Hell no! Buy, buy, buy...
I've been in and out since last September. I've doubled my number of shares in that time, but lately, I have found every time I take a profit or reduce my risk, I take a bath. So, now I'm riding with trailing stops. I sleep at night and when the big one happens (I don;t think it has, yet), I'll still be riding high...
It's always going to be a wall of worry, gentlemen, at nosebleed levels. Somebody asked if anyone hedged, I sell short term covered calls for a lot of premium, and ride the wind. Right now the $300 is selling for almost $28, that's a bunch of downside protection while preserving a 10% pop over the next four weeks.
The world is destroying its fiat paper money to be more competitive, I don't think Bernookie will be happy until everybody here drops from $3500 a month to the same buying power of a Chinese coolie, $350 a month. Then our slave labor will be more competitive with their slave labor.
See how that works?
So do I expect a correction? Sure. 10%. from AG $55 to AG $50, at which time I will be buying the dips in SLV and PSLV and yes, AGQ.
And selling covered calls wherever I can.
why would you sell? For what, paper nothingness?
Dont be Silly. Stop Listening to anybody else.
You should be buying more bc you are right, pretty simple stuff. It just is psychologically uncomfortable to ride a winner sometimes. Get Away. Get your mind on something else. When you come back in a year or 6, we'll be astronomically higher.
Steve, we're in sync on where it's going ultimately. Unlike some folks here, I am 100% silver. That's all retirement, all core, all trading positions...only silver, and has been for years. AGQ is my trading position, at 25% of my total. I can afford to trade out and back in if I'm wrong, since my bullion, which I haven't touched other than added, remains going up at the same daily dollar rate. At 2x leverage, I prefer to use AGQ for trading. I can be wrong on this and not cry myself to sleep; it's the difference between making $12,000 today or $16,000. I'll take Door #1 and sleep tonight, then see how things go tomorrow.
And I'm actually not listening to anybody else...I never do. I follow my instincts. I don't blame anyone else if I blow the call, and no one can take credit if I sweep the table. I prefer it that way.
I smell something funny and pulled the plug on my whole position at $301.10. I have a physical position that is 250% larger so it can go on up without regrets. Everyone thinks $50's a lock now and the battle will come later. Ever the instinctive player, I think not. I think gold $1500, while not exhaustion, is relief and there won't be follow-through on silver right now. Correction now? I wouldn't be out if I didn't think so. Collapse? LMAO. There are a lot of technical players that are nervous; I'm just nervous about them being nervous. I would rather be a little less rich and wrong than a lot less rich and REALLY wrong.
i'm a little concerned...i guess my question would be where is the next psychological level for silver...is it 45? is it 50? i think eventually silver will hit 50 because that's what happens...people (investors) inevitably want to try test psychological price points...at least that's my opinion.
i'm still holding...i bought more yesterday at 288 hoping 300 would be tested and it looks like it's holding...i've got my fingers crossed, but i am looking to unload half my position soon to lock in some gains.