My Bad...

[Diggin4copper]

I bought yesterday morning... should have told you guys, sorry...

[TheJonasCollegeFund]

Did you "buy" in a BIG way?


It's gonna shoot back...it has to.

[BamaJoe]

I bought yesterday morning... should have told you guys, sorry...

No matter what the price does today, tomorrow, next week or next month, before you know it you will look back and say to yourself "Man, I was a genius to buy at that price!". That's been my philosphy for over the last decade and it's always been true.

[Rodebaugh]

Nope it's all my fault (that is for you Barry )

I am holding physical gold that I cannot legally sell until Thursday.

[silverflake]

I was stopped out of SLW this morning. Errrr...I have had it with 'investing' in silver. I will continue to buy only physical so I can hold the stuff in my gosh-darn hands!

[barrytrot]

If you were "stopped out" then you were NOT INVESTING. Stop losses are for TRADING.

Trading is the most OPPOSITE THING from investing there is.

Traders can make a lot of money, but only if they know they are traders!

Investors can make a lot of money, but only if they know they are investors!


And, by the way, investing is MUCH easier than trading. But the returns are "consistent" instead of +100% in a day and things like that. But hey +X% per year adds up over time

[Cu Penny Hoarder]

I bought yesterday morning... should have told you guys, sorry...

No matter what the price does today, tomorrow, next week or next month, before you know it you will look back and say to yourself "Man, I was a genius to buy at that price!". That's been my philosphy for over the last decade and it's always been true.

+1 This is the exact attitude everyone should have.

Diggin,
When the system collapes, everyone invested in paper assets will have nothing but worthless paper funny money, but you/we will have something of value. Always concentrate on the amount of ounces you have, not what it cost you when you bought it.

Keep stackin!

[SilverDragon72]

+1 for the STACK!

[silverflake]

Hi barrytrot. Always appreciate insight and opinions on 'the board'. You are correct when you say that one has to know whether they are a trader vs. an investor and everybody uses their own styles doing both. But just to add some info - I WAS invested in SLW. I am invested in many stocks. But the golden rule of buying any stock (whether expecting to invest in it for long term or swing trading it) is to CUT YOUR LOSSES. No matter what stock I buy, I the second move I make is to put a stop loss on it. For expected long term investments, I'll use a 25% trailing stop. If you don't, I respect that, but the biggest failure among all individual investors is not cutting losses. Perhaps this is best explained in the investment thread, I don't want to get off subject. Continue to keep all ideas and thoughts coming though. Always good to get others perspective.

[barrytrot]

silverflake,

That's very reasonable.

I wouldn't do it

But it's very reasonable.


Here is my strategy: Don't buy something that has any chance of a long term loss. I checked and since 2008 I don't have one sell that didn't result in a profit. Incredible you say? No, I just picked obvious companies that would return a profit. And does that mean I sold higher than I bought every time? Nope, you don't need to if you have sold options on it. The overall cost vs. the overall sell has always been higher for me. And that includes several times where the stock retreated by over 25% in the SHORT TERM.

I will be surprised if Silver is under 30 forever. Maybe. But I doubt it. And as long as it eventually rises above 30 then I win. In fact, for some of my shares I'm winning right now since I've been selling options for a while on some of the shares.


NOTE: I'm sure that someone will say, "there is no such thing as a sure thing". I don't really know about that actually. Companies like Microsoft, Apple, Exxon, (dozens of others), have insane levels of profit and are set such that other than nuclear war or similar they WILL MAKE A PROFIT for at least the next 5 years. Could that profit be lower? Yes. Could it be Zero? No, not statistically possible without complete societal meltdown.

So I would be willing to make the statement that you can pick 100% results (LONG TERM) discounting the complete destruction of our economy.


NOTE: Some would then say that the destruction of the economy is guaranteed to happen soon. I would say, you could be right, but if that happens I'm beyond boned anyway, so I won't care if my stocks also go down since my life will go from TERRIFIC down to HORRIFIC either way And, of course, I have my own metal hoard to live off, but that sounds like my worst nightmare.

[silverflake]

barrytrot

You actually are right on buddy. I agree almost completely with you as I too have done very well with the big name, constant profit makers (MSFT, INTC, PG etc.). re-invest those dividends and yes, I do sell covered calls for some extra income. But at the beginning, I put in that 25% trailing stop. Now I have to admit, after a few years of dividends (and covered calls if you want) my (and probably yours) average price per share is so low that I can take out that stop order. I guess I will have to admit that SLW's volatility is what did me in. Anyhow, I can also show you times when those stops saved me a BUNDLE - 2008 for example. By the time the market capitulated in March 2009, I had so much dry powder to unleash on those aforementioned stocks after being stopped out ealier the previous year (with mostly profits by the way) that it ingrained stop orders in my head.

Your method sounds good and sounds like it works for you. I wish you financial independence as soon as possible. I still like my stops, that's just how I roll.

In the meantime, don't forget to keep stacking!

(I apologize to the rest of the RC's if I have strayed too far off subject. What was the subject anyway?...)

[db23]

I bought yesterday morning... should have told you guys, sorry...

Could you go buy some more? I'd love to see $25-26