I bought SLW when I saw the CEO on CNBC. Almost immediately after his appearance, the PPS dropped, and it never recovered.
I sold today at a loss of roughly 15% of my account value.
My advice, NEVER buy a stock that is being pumped on CNBC because you never know the motives of other holders that could be dumping.
This is my opinion
Nobody pays attention to the talking heads dude. Lol
if thats where u take tour trading advice from then this must be your first day in the market! Lol lol geeezzzz??? Wt &.lol learn anything by the way? Next week it will give u tour 15% back ,oh thats right you got wa=eak and dumped,were u in slw for at least a couple days anyway? Lol lol !!!wow!
good night ireen! Lo!
Thanks for the cheap shares! I had no cash, so I converted all my other stocks to slw and svm near the bottom down almost 7% They recovered nicely off the lows. Slw is my top holding now. It's been a long time
glad to be back. I had been waiting a long time for a fear driven panic situation like today to get back in slw.
i WAS WAITING ALSO AND FELL ASLEEP! OICH,i MISSED THE LOW ??30.50 OR.60,mabe tommorow will be another chabce ,I really don't see this going down much more,mabe sideways for a while or start crawling back clow,but not to much more downside in my uoinion anyway. g l 2 all.
Very good post ltvalue.
I was being tongue in cheek.
Many folks do not know what they are doing, and although the "freak'n internet" (as I like to call it) allows all to buy and sell stocks with ease, it also allows the folks who shouldn't be making decisions like this without advice.
For him, he clearly doesn't understand, and as sleep is definitely a valuable commodity, he should get advice or remain a sleepy couch potato.
That interview was positive and has nothing to do with the stock going down. The main reasons are:
1) Buy the rumor, sell the news. Traders bought before earnings report anticipating good results, they got good results, they sold. Standard procedure.
2) CME has increased margin requirements on silver futures twice in one week, resulting in large scale forced selling of traders working on razor thin margin. This is also being done in multiple other commodity exchanges and is creating a large but temporary downdraft in most commodities.
3) Dollar is up as people move out of the euro while ireland and portugal appear near needing a bailout by the IMF/ECB/Eurozone.
4) Stock rose so fast over the last two weeks leading to earnings report it went practically vertical. Securities that go straight up have a habit of going straight down on pullbacks.
No offense, but if you lost 15% of your account value on SLW then you need to sit down with a cold beer and decide: are you a trader or an investor. If your an investor you shouldn't have sold your position as none of the fundamentals have changed and medium/long term the trend is up. If your a trader you need to learn much more rigorous risk control and money management rules, you should never take a equity loss of more than 1% or 2% on any individual trade.
You bought high and sold low.
And you got scared.
And you bought on the basis of a TV show.
I'm afraid you sold and will be unhappy 6 months from now.
But, it's better that you do not lose sleep.
Sleep is a commodity too!
I first bought SLW in Feb.2008.
In 2008, I bought at a high of $15 and low of 2.6.
Until recently my avg price per share was 10.53.
In the current correction, I've added at 32.80 and 33.38.
Silver will go up much higher and so will SLW. If you want to make money in the volatile PM market, be patient- buy on pullbacks!