Silver - $27 going to Zero! Call your boss..beg for job back

[Oakair]

Ive never been this lucky with futures haha. This is the most incredible feeling. I wish markets were open so I could sell enough to cover my costs and just let the profit keep on riding with no fear.

Im so happy young me decided to collect coins haha. Sparked a lifetime interest in SILVER.

[bankmining]

There's the slam down

[Rastatodd]

Let's see if this slam down has any legs. My opinion is no. Still on the sidelines with cash in the bank. Taking a wait and see stances.

[Oakair]

Up 125% on my position at close today. Covered my costs a few days ago and am riding pure profit at this point. Come on rebound haha

Options are too rewarding when they work!

[Cu Penny Hoarder]

Up 125% on my position at close today. Covered my costs a few days ago and am riding pure profit at this point. Come on rebound haha

Options are too rewarding when they work!

How about when they don't work?

It's like a gambler who goes to the casino and only telling people how much they win and not what they've lost.

[beauanderos]

Up 125% on my position at close today. Covered my costs a few days ago and am riding pure profit at this point. Come on rebound haha

Options are too rewarding when they work!

How about when they don't work?

It's like a gambler who goes to the casino and only telling people how much they win and not what they've lost.

Hey! I made $2500 on four trades between Thursday and Friday on JNUG and NUGT yeah, but I lost $7000 a few weeks back and I'm not even yet

[johnbrickner]

Hey! I made $2500 on four trades between Thursday and Friday on JNUG and NUGT [size=50]

Called it on the 4th: viewtopic.php?f=9&t=38290#p305194

[scyther]

...And it's under 19. Glad I sold when I did!

[johnbrickner]

Time to consider some buys.

[creshka46]

I'll admit, I went all in on USLV last week at $19.80 and told myself I would forget about it for the next couple months. Easier said than done now that I'm 13% down in less than a week But I do feel the conviction that we'll see $21-22 before the end of the year. However, I'm questioning whether it's worth the stress

[Rodebaugh]

Sell that USLV....feel the hurt and move on.

[creshka46]

Really? You think we're headed lower?

Sell that USLV....feel the hurt and move on.

[Thogey]

Sell that USLV....feel the hurt and move on.

There is also a tax write-off to help ease the pain. "all in" is tough one

[Thogey]

But I do feel the conviction

Except for the exact words Jesus spoke. This might be another one to avoid.

[creshka46]

well lucky for me, "all in" is in the mid 4 figure range, so losses are less than $1000, but it still hurts. I didn't think about the tax issues. Maybe now is a good time to convert from a traditional to a roth IRA. Pay the taxes now on the lower value....

[creshka46]

But I do feel the conviction

Except for the exact words Jesus spoke. This might be another one to avoid.

??? you're point escapes me...

[Thogey]

Just sayin I've been burned on many a deal when I "felt the conviction" a price will move one way or another.

I guess I'm agreeing with Doc. I have felt the pain of sticking with a conviction. The future price of anything is so unknowable.

The Jesus thing was just the exception I thought of.

[Thogey]

In fact I'm going to start another thread about price surprises.

[creshka46]

Aha, I get it.... Thanks for your 2 cents. I suppose some lessons are more painful than others

[Thogey]

I once bought into a single odds crap game for $60, ran it up to over $3000. Then lost it all. That sucked,

I will never do that again.

That is run $60 to $3000 in a single odds game with a $50 limit. You craps players know how hard that would be.

Emoji binge and thread derailment off.

[Rodebaugh]

USLV moves against you ..... you get out.
USLV moves for you........... you get out.

[creshka46]

USLV moves against you ..... you get out.
USLV moves for you........... you get out.

I'm getting the impression that maybe I jumped in over my head

[AlexTG]

My unprofessional opinion

Holding any leveraged ETF long term is just not a good stand.
http://www.investopedia.com/articles/financial-advisors/082515/why-leveraged-etfs-are-not-longterm-bet.asp

"If you’re a beginning investor, don’t go anywhere near leveraged ETFs. This might be difficult because of the high potential returns, but if you’re inexperienced, then you’re much less likely to know what to look for when researching. The end results will almost always be unexpected and devastating losses. Part of the reason for this will be holding on to a leveraged ETF for too long, always waiting and hoping for things to turn around. All the while, you’re capital is slowly but surely being chewed away.
"

As for USLV and silver in general, I think we are in a trading band between 18.50 and 20.50. Strong breakout above or below these markers resets the band.

We just hit above a 2 year high over the last 30 days and some pull back is expected. If the Fed increases the Fed funds rate expect more pain as gold and silver dive and dollar goes up. Other wise we will continue a slow trend up over the long term until the next economic event or War. Don't forget that silver is up +/- 40% YTD so we have truly seen massive gains this year but its not really a major headline in MSM financial news.

Rodebaugh is right , when USLV (or any leveraged ETF) moves you get out. Its just too fast a current to fool around with.

Best thing to do if you really want to trade is set loss and gain limits. Take the emotion out of it. Figure at what % you have to get out or what % you will take money off the table. The more robotic you are about it the more likely you are to do well.

[IdahoCopper]

Still going down, while the GSR going up. $18.54 and 71.5.

[pennypicker]

With each passing day Brexit is moving to the rear view mirror while Fed hikes are on the horizon. Wouldn't be surprised at all to see $16 silver again.