My cousin says "buy 100% AGQ" for my account!

[barrytrot]

I manage a couple people's accounts (all have shown positive gains every year I've managed them fyi!)

Anyway, normally I just do whatever I do with them

My cousin told me that he wants everything in AGQ

I'm glad he didn't say that Friday! Although I think both entry points are pretty darn good long term. Although AGQ to me doesn't seem like a "long term play" anyway since it is essentially "margined silver".

[TwoPenniesEarned]

It is nothing but a basket of derivatives. It swings hard and I've walked away with less than I put in, despite riding many rockets up. The down days seem to hurt double hard. Dunno why. Be careful with it!

[$nack-Money]

tell him to wait a few days on that call lol

[barrytrot]

I entered his order. Half has been "executed" I imagine the rest will also

His net entry point is $20.86 on AGQ. I convinced him to be aggressive but use the options to protect your back side.

So he's 100% safe up to another 8% silver down turn and over time and including option premiums he should be able to withstand 15% silver down turn within the next year. $19.81 (net silver price). My gosh will that feel low if that does happen

[TwoPenniesEarned]

I hadn't looked at my portfolio this morning wondering how low AGQ had gone. It was 37 last Wednesday...so I basically lost half my money in it. I think I'm done with paper. I won't sell out of principle because that would allow some scumsucking banker to cover a short with my long...but I've been burned often enough now to stay the hell away from the banker's sand box. I'm going to do my best to come during off hours and piss in that sandbox though.

[barrytrot]

I wouldn't shy away from paper so soon. The option premiums are awesome right now. And nothing in the long term has changed.

I would never recommend margin though. So AGQ is going to be an unsafe play. I would never do it for any of my accounts normally. This time was a rare one-time thing based on my cousin's request.