All in on the short side of silver now. Last tranche at $18.30. Will sell this tranche today if I see the right price.
Ok, now the time is just long.....
That was a long week.
I know many on the site will be disappointed by the drop in the PM price.
I had to sit tight to be right. That was one tough sit, so this is my due. Exited a short tranche at Ag=$17.97
Another one bites the dust.
Let go another short tranche at end of trading day, Ag=$17.89.
Still got one left.
Now ain't that sumpin'
Silver has really been whacked. Based on what exactly I don't know. I think it's time to switch horses tho, this one's beat out.
Sold my last short tranche of silver at $17.68. Too soon, don't care. $17.70 was my magic number. Like the cash register sound.
Entered the long side at Ag=$17.54. Giddy up!
Well that was a buck too soon.
Another long tranche at $16.60.
Is it $16.60 already?
Weekend comment. Silver has to hold or rebound here around $16.50. If not then $14.xx is in play.
Weaseltracker, you're the last trader that I recall calling $14 dollar silver a couple years ago and it did happen. Haven't heard from you in ages....if you're around give an opinion, would ya?
Took a profit on the lower long around Ag=$16.85. Too much uncertainty to leave it in the fire longer. Considering short but want to see more first.
lol darn it. Popped past $17 as I type this. Ah well. Still ahead on the trade.
Ok interesting day.
Opened a short at Ag=$17.25
For now have a straddle. I don't think of it as a hedge because I expect to play both for profit.
Lots going on with all areas of trade.
Bought another short tranche at Ag=$17.30
Expect action today, up or down.
Sold a short tranche at Ag=$16.81.
Happy with the trade and no longer 'all in'.
Too much chart watching.
Exited last short tranche at Ag=$16.74
Bought another long tranche Ag=$16.74
Just had my ass handed to me on that trade and for the other long tranche I've been holding. Well of course 'you don't lose until you sell' but the writing is on the wall when Silver went below $16.50.
Switched sides and all in short now at Ag=$15.90.
Been a long time since I've been in that position, last time I waited the 6 or so months for recovery, willing to try a different trade this time.
Sold one short tranche at Ag=$15.30 so as to grab some profit + not be all in.
This is stretching my ability to stay calm. The pop up yesterday (60 cents!) after I switched to all short almost got me cashed out and on the sidelines. Glad to have made some profit and ok with having dry powder again. Cannot believe the volatile here as it lost all 60 cents and then 30 cents more...within 24 hours.
The PM decline continues.
Another short tranche sold at Ag=$14.65. It's really hard to write $14 as the handle.
so that's Silver down more than a buck in 24 hrs.
Hope y'all realize this is necessary as the setup for a slingshot move upside.
Posting about my position, for now.
May come back when I start going long.
Figured I better update.
Got my ass handed to me like most everyone else. Had a JNUG position at 81 iirc, took the pain to 46, sold. Went flat. Watched JNUG go up to 65ish. Somewhere in there I took a DUST position at 5.34 iirc, it went to 4.75, i sold...cashed out the account and swore off the market. Watched DUST go to 13. Then the wheels came off of JNUG as I was on the sidelines.
I re entered yesterday. So much for swearing off the market. A very small position at 5.35 JNUG. I just sold it a few minutes ago at 6.75 per JNUG. I'm flat right now but have an LBO in at 5.28 JNUG.
My new position is 10% of what I was playing with.
The lure of 'easy' money has a very strong appeal...
However, I do feel miners long term are the way to go. It does look like the bottom may be in. JFTR I also funded a onegold account. Tip the Turd if you do the same.
back in Jnug AH at 6.29, too early but thats ok, added shares to my position
I started doing trades to the long side. Well I am, and have done a couple. They are very short term trades, but nonetheless long. I do short the silver market as well, also very short term. Emotion is high and the news cycle so fast that I am not looking past 48 hours ahead.
I do not think PM's pulled back far enough to make a sustained move up my most likely scenario. I might believe it for the 'stock market ' but that will have govt assistance, PM's will get, if anything, gov't headwinds.
I have tears in my eyes from watching the chart today and blisters on my fingers from pounding out trades.
The price of anything makes no 'sense'. What is 'money' anymore anyway.