barrytrot wrote:neilgin1 wrote:barrytrot wrote:My "never under 25" looks good in the $500 per ounce scenario
whadya mean? i dont get it.
I guaranteed silver would never fall a full day under $25 a year or so ago. Some people doubted. I imagine fewer would doubt at the 3 figure level
OH!......gosh, sometimes i am so DENSE!! (laughing) i never doubted what you said, ie..the 25 dollar floor, not for one second.
You're a very interesting person to me, i can TELL by the way you write, that you actively trade, put your own money on the line....and my GUT tells me, that you probably do pretty good.....and i DO understand that you prefer the city.
Believe me Barry, used to be a day, when i would delight in boarding that "El" train to head to the Loop, Chicago, and down for another day on the trading floor, the excitement, the crowds, the action during the day, etc.
then at night, being involved in our theater, we all lived above it...that action, doing plays, plenty of cute girls around, nice restuarants and clubs to hang out after. It USED to be so much fun...so i get "it"..........but i'm telling ya....i feel SO STRONGLY in my gut, that seemingly insane $500 an ounce price objective for silver......now, as for the timing?
one big question mark! i will cop to the fact,
i am a TERRIBLE market timer...the worst. Thats why i learned to spread trade grains and crude oil....intermidiate to long term?...i'm pretty good....short term?...poo. i remember in 98-99, Crude oil was 16-19 a barrel, i told ALL my guys, trading friends, 'we are going first to $70 a barrel, then to $120 a barrel.......oh goodness, they all i thought i was sniffing glue!
i based my analysis on global output, versus consumption, studied the trend in both extraction costs, looked real hard at the age of the big whale fields, and the newer finds...all of it, and thought 16-19 was too cheap, so i began to front spread, like i would buy June and sell July against it...they call that a "one piece" crude spread....eventually i got to doing "six piece" spreads, say buying June and selling Dec against it....long story short?.....when i get amped, and am kicking butt, i have a tendency to OVER TRADE, pedal to the metal, and one day, in three hours, i got annihilated, killed!!! i laugh when i think about it now....thank God i had the FRN's in the account to make good, but i was wiped out, a LOT of money......never had to go BK though, which is the most important aspect, second only to the realization, that pure speculative trading...for me?...is ill advised. Never traded again in the futures. Done.
Now, i just stack...thats it....i also enjoy stacking firewood very much, its fulfilling.
well, you have a good day, dear Barry, neil