What were you all saying about silver again?

[gambler2075]

OBL dead, silver futures getting crushed... (already down 13%) I wish I had held onto my ZSL position (doubly leveraged SLV short)... probably will be up 25% tomorrow...

24-hour Spot Chart - Silver
ProShares UltraShort Silver (ETF): NYSE:ZSL quotes & news - Google Finance

g

[Scanner]

Yeah, these are the events you just can't predict but I'd rather my portfolio take a hit and have a winner for Pax America. . .this could mark a pullback for silver and the dollar makes gains as people sooner or later figure we will draw back our military now.

[Scanner]

Curious. . .it's trending back upwards. . .I guess investors had a momentary cause for celebration but then realized, there is still a housing crisis, a lending crisis, and a QE2.

[Scanner]

And back down again. . .only you day traders can figure that out. . .I have no idea what's going on.

Anyway, my new stop price: $41.00 for SLV. We'll see if it's activated or not. At that point, I'll be totally out of silver. I"m selling the whole kit n' kaboodle.

And it is May after all. . .

It’s May, and That Means It’s Time to Sell: Jeff Hirsch - Yahoo! Finance

the Pundits tell me to sell in May. . .

[Scanner]

Trade activated. . .I am 100% out of silver metal but I do still own a small position in miner stock, which I happen to think is way undervalued.

The question is "Now what?" 60% of my portfolio is now cash.

[KTP]

Trade activated. . .I am 100% out of silver metal but I do still own a small position in miner stock, which I happen to think is way undervalued.

The question is "Now what?" 60% of my portfolio is now cash.

Wow, nice timing...looks like SLV is under $40 right now.

My portfolio is 60% to 65% cash also. It was higher but I just bought 3000 shares of AFFY again at $6.30. Was hoping for $5.90 but it may not go that low again).

[Scanner]

It's funny. . .I didn't put in a stop order @ $41.00. . .I thought, well, I'll just watch it and when it gets close, do a market order. Mind you, it was around $43.50 when I took a nap.

I took a nap around noon today and woke up and went, "Ahhhh!!!!!" It had sunk to 40.72 when I sold, LOL.

Literally caught sleeping, lol.

[Scanner]

I am actually considering a small position in the leveraged short that Gambler mentioned. The problem is again. . .I don't think really too much like a trader. . .I'd rather invest in the dollar than go short on silver at this point.

And it's really impossible to be Long Dollar. It's hard to be Long anything at this point. . .in that case, I am giving the DXD and Ultrashort silver a look for something short term and speculative, while hoarding my cash, I guess.

I don't know. . .I guess real estate is a long. . .given the real possibiliy of a double dip recession though, it would be another 4-7 years to realize a return.

I guess my only "long" position in my portfolio right now is XLF - the banking sector.

[KTP]

I am finding very little I feel comfortable going long with also. I sold my microsoft before earnings for a $2 a share profit, and felt safe buying back some the other day at $25.50, and I am holding long on some cisco, seadrill and nokia, but other than that I can't find a lot of bargains.

I am dipping my toe in the water in some of the biotech stocks though...the safer ones like AFFY and VNDA (I am up 15% in that one) that have a ton of cash in the bank. They do seem to trade independent of the general stock market and so make for sometimes cheery days when otherwise the DOW is red. I really hate the cash I have though, because I can see it eroding right before my eyes every time the gubmit printing presses turn on (actually they probably just slide the switch to faster...I doubt there is an off button).

[gambler2075]

I would actually argue that the people that you are essentially going to be taking money from (when you finally sell your position) are the people that are the worst traders, namely, the people that formerly were investors who saw silver going up, up, up, and finally decided that they were going to sell their boring Vanguard fund and get into silver at 50$... Those people are still investors in my mind, and they will be the ones to suffer most when silver implodes. So you are really going to be taking money from other investors... they just don't know it yet

g

Although I was about 1.50$ off, hopefully this post saved some of the non-traders on this messageboard from jumping on the silver bandwagon at 48 and losing 20% of their money in 2 days.

Once again, the contrarian mindset (sell when everyone else is buying SLV like crazy, or at least, stay the heck away) was the correct one. Surprise, surprise.

g

[gambler2075]

Wow, nice timing...looks like SLV is under $40 right now.

My portfolio is 60% to 65% cash also. It was higher but I just bought 3000 shares of AFFY again at $6.30. Was hoping for $5.90 but it may not go that low again).

I would only be mildly surprised... lots of times they take it back down to the dilution price in order to shake out retail... The small cap bios have been getting killed lately (as evidenced by TNA) so on any pullback of the markets, we could get there (5.90)

g

[kv968]

Nice play with SLV Scanner. Next time set an alarm so you don't miss the trade I made me a nice 44% in a couple of days shorting it. That made up for me selling my shares months ago at ~$18

[Scanner]

KV,

Nice play to you too. . .I guess I am not brave enough on doing the silver short. I enjoyed the nice, slow, steady, contrarian climb rather than the mainstream fall.

ALl of this has given me reflective pause as I celebrate the end of 4 years of 300% profit on that part of my portfolio - I may indeed function best as a medium term investor. Never seemed to do all that well on the long term (7-10 years) and I have no freaking clue with teh blood in the streets (as DS and Warren Buffet put it) if investors will start buyign silver tommorrow. . .but I usually hit pretty good with 1-5 year investments. . .I just have to learn to take calculated risks better, I guess.

I bought China short today (FXP) - going to buy in increments of 1/3rds over the next 6 weeks. I am "Medium" on China Short. (what do you call someone who isn't "long" but not "short" either?) Then further rediversify my portfolio for the next 5 years - real estate will be in there, I think American bulls/S&P 500 may make it's run 3-5 years out.

Neat little investing club here. . .boy, I am in a good mood this week

[JBinKC]

From gloat to goat. This impending sell off was as easy as they get to detect and hopefully you heeded my warnings of how wrong the market was acting to both money printing which I believe has been driving this market since the credit crisis and weak underlying stock prices in the junior sector even though a portion of them were trading at really low forward 2011 cash flow multiples (around 2-3 times) unheard of in most stocks.

Hopefully you realized the catalyst for the sell off in the commodity space was the raising of the margin requirement for silver and the ripple effect from it and you had enough horse sense to take profits at least to the point where you would have zero cost on your remaining holdings.

[Scanner]

I did. . .I got out at $41.00. . .not exactly the top. . .but I took my profits.

But that was yesterday - ancient history.

EDIT: sorry. . .$40.72 for SLV. . .cause I took a nap