Watching the Wreck Subsiding

[beauanderos]

ok, so I actually do listen (but not always act upon) the Proclamations of those who consider themselves omniscient here among our members. I decided last week to "hedge" silver after that nice run-up with my strategy being to put some otherwise dormant paper (in the 401k) to work. Wound up buying 27 shares of ZSL, at an avg cost of $102.16.

While still sulking at the wound being inflicted on my stack (although only short term IMO) I am now able to draw solace (and a grin) at the volatility that permits short term gambits to earn paper gains. If ZSL hits $115 I'm out, and then begin (again) looking for an entry point into USLV. No point in being greedy, you can make quick little "steal the bacon" type moves and fill your belly satisfactorily. In the meanwhile... always buy the dip (physical)

[barrytrot]

That's a nice little pop Ray! Congratulations.

I love to see people putting their money where their mouth is!

[beauanderos]

Decided to take it off the table at $111 per share. Now let's see if the drop continues and I can get into USLV at $4.50 to ride back up

[beauanderos]

That's a nice little pop Ray! Congratulations.

I love to see people putting their money where their mouth is!

Not bad work if you can get it. $222 net in one week for pushing a couple of buttons on the computer

[beauanderos]

Just picked up ZSL again, 31 shares at $97.29. Missed out on the rise, USLV never dropped to my limit buy level. Market may continue to rise into early next week, but usually a pulldown occurs on Friday's. Strategy is going to be to buy triple-leveraged ETF's after big moves in the opposite direction. Be satisfied with a small 5% or so move and then back to cash. Take quick little bites, and before you know it the piranha can finish off the cow.

[beauanderos]

Sold ZSL at $103.81, bought USLV at $5.35

$186 profit after $8 buy, $8 sell (TDAmeritrade, self-directed 401K)

If silver stays rangebound with similar volatility (or greater) going forward...things could start to add up

[beauanderos]

Totally missed an intermediary move, by being greedy, that would have captured a nice profit (could have made $650/17% four days after the initial trade, and ridden 46 shares of ZSL into the recent pullback and made another $400 on that sale!!). Didn't want that to happen again, so I sold USLV today at $6.04, $456 profit after paying for the trades, and placed an order for ZSL which will fill at $92.97. Need silver to go just a bit higher

[barrytrot]

Nicely done again!

[beauanderos]

Nicely done again!

I'm trying to get a few intrepid individuals to trade along with me on these. As JonFlyFish likes to say... stealing candy from a baby. Much simpler tools than what he employs though (and on a much smaller scale)

[plus1hdcp]

Well done !!

[theo]

Nicely done again!

I'm trying to get a few intrepid individuals to trade along with me on these. As JonFlyFish likes to say... stealing candy from a baby. Much simpler tools than what he employs though (and on a much smaller scale)

I picked up a few shares of ZSL at about 93. We'll see what happens.

[beauanderos]

Nicely done again!

I'm trying to get a few intrepid individuals to trade along with me on these. As JonFlyFish likes to say... stealing candy from a baby. Much simpler tools than what he employs though (and on a much smaller scale)

I picked up a few shares of ZSL at about 93. We'll see what happens.

I'll keep my fingers crossed for both of us. Not that I want silver to go down... not at all... but if the batstirs are gonna play their games, we might as well profit from it. I do think that silver has bottomed and will begin to climb higher, but it won't do it in a straight line. For that reason I will go for quicker, smaller profits on the ZSL downside, but be willing to hold longer for larger gains with the USLV. What's nice about posting counterintuitive paper plays is that if silver goes up, woohoo... our stacks gain. If silver drops, well... crud... but at least we show a paper profit of some small gains.