These day to day swings should be ignored unless you are a short time swing trader. I own silver for survival reasons. If silver went to $100 an ounce, and you sell, with hyperinflation your $100 could be worth pennies on the dollar a few months later. Silver and gold represent true value when governments are printing trillions of dollars. Insurance is always good to have. Good luck to all.
Right or wrong, I sold my SLW for a small loss. I don't see any upside being in the market with the issues in Washington. I think people will be taking profits this year rather than waiting until next year. I am holding my CEF as this is more of a pure metals play. Now, I'll sit on the sideline waiting to buy SLW back when the dust settles. Best of luck to SLW shareholders.
You're right, I bought this stock for the 3-5 year range. Yes, I don't like these big swings, but long term we'll be winners. Go SLW!
My silver is not for sale. The price is obviously headed lower, but my silver is not for sale. Profit is not why I bought it in the first place. I sleep better at night knowing I have silver. Good luck to everyone.
What kind of market is this?? I'd say pretty currupt. The point is JPM is covering their shorts before the new Dod/Frank rules take effect and limit the number of contracts any one group can hold. So, I thought they would drive the metals sky high when the banks covered. Boy, I was stupid to think the big banks would lose. I will continue to buy hard silver. The big banks will cover and then you will see a big push to the upside just like they did to the down side! We all have to be right half the time...Right?
You are very lucky with your timing. Who can know when the big boys (COMEX) are going to screw the little guys. By the way, I can't find any silver online to buy today. I tried APMEX and Jack Hunt Sales.
Nothing but hot air today. If you want your money back, just hold for a month or two and you will be ahead. In May the world was ending and silver was going to $20. Didn't happen and I made all my money back plus some extra. Silver is a wild animal and you have to be able to ride the crazy swings in price. Good luck to all.
The reason silver crashed in may was that margins were raised 4-5 times in a week! The silver market was forced down. A really cheap shot if you ask me. We that buy and hold silver will win in the long run.