been out for a week or so but just cause I wanted to use the money elsewhere but dam it's been a bad couple of days

it's only bad if you're long lol.

you can play both directions don't forget :p

don't be stuck in a bull mentality, it's a bad habit.

TIMBERRRRRRRRRRRRRRRRRRRRRRRRRRRRR


minoru u short???

i fuckin am NOT.

but for sure, when they pull back im shorting them hard. both broke the weekly lines i drew a few posts up.

gold blew right through today. futures down 66 bux right now. silver down 1.442

man ..fuck. i coulda made my annual salary today if i were paying fucking attention.
instead i was squabbling with sp500 and crude. hahaha



im telling ya... 1100 gold and 21 silver.

edit: closed -88.8 down lol

dude... GLD weekly puts 12,000% gainer on Friday. Nuts.

that's a lotta new millionaires lol

^.. all metal futures getting fucking CREAMED right now holy

1400 gold may not hold.

:considered:

BUY ALL THE SILVER NAO!

jesus, gold is down over -90 and silver over -2.7 and the day hasn't even started yet.

How do I delete my post where it sounds like I'm bullish silver? Obvious typo I meant sell all the silver now

:badpokerface:

Ulic, nope I wasn't short. I had no position. Luckily i don't have a lot of money, cause I would have lost it. Ouch!

the margin calls on metals tanking market .. it is beautiful

i am very glad i studied options these last few months... profited substantially more these last few trading days than i would have just buying the equities themselves lol

Holy crap the drop in precious metals today.

My friend advised me about a potential drop a month ago... should have listened. :fuuuuu:

I have never seen gold trade like this before the pit opens

Ulic I'm thinking this is a massive deflation sign on the way so im just looking for something else that has dropped as heavy like NG or the grains. gonna play this like the mortgage crisis when each day I just looked for a bank that hadnt dropped yet

so much for a pull back. grrr

actually here comes the start of the pull back, those without enough balls can go long... but be super defensive.

Pretty good bet to go short again? It's not enthusiastically bouncing

it is bouncing now.

patience... always try to let it play out.

can't ignore the tail on the green 2 days ago. fuck, it didn't pull back enough to hit my price and it's going up now.

lots of rumors and conspiracies that the metal fall was caused by someone selling 400-500 tons of gold that day. the conspiracy theorists say it's the fed. others... well whatever, it happened. it happened in feb 2012 too. and before that. someone's doing it every so often periodically. perhaps buying it all back over the next few days. I mean if u had a billion dollars to play around, and u knew if u sold 500 tons of gold it would kill all the stops and start a panic short sell.

then u buy it all back slowly over the next few days, and it recovers, you just made a crap load of money.

anyway i am sure it will pull back on the daily chart (at least a bit more, if not all the way back to the averages). after it does that then we can assess if it's going to go down again.

that's what i read now, it could be totally diff in a few days depending on the charts. we'll see.

8% haircut on SLV during Asian session.. holy fuck?

-----

No silver futures with Questrade tho. Interactive does and is even cheaper than Quest. the banks and their "discount" brokerages are a rip off even with their best rates.

Silver just dipped below $20

golds going to 1000 man.

silver is going 9-12 bux.

feel sorry for all the ppl that keep buying lol

you better learn how the margins work for futures dude.

yes it is "cheaper" but its leveraged. you cant just buy and hold.

if it goes lower you're gonna get margin calls and shit. you will lose more than ever put in if u just buy and hold. unless u don't leverage it and put in like full amount calculated so you can hold the waves. don't forget about delivery months too. the contracts expire.

for example

silver margin is around 12500 dollars per contract.

you buy 1 silver contract at... say 19.50. say you buy one many months out so u can hold.

the maintenance margin is 6000 dollars. so of that 12.5k, your money cannot drop below 6k or else you have to "refill" it to 12.5k.

if silver drops to 18.50, you lost 5grand. every dollar silver drops you lose 5 grand.

how many dollars can you afford? if silver drops $1.20, you'll be on margin call and you'll have to refill your account 6grand.

i say silver is gonna go down another 8-10 dollars. thats a 45,000 dollar loss if you entered today. can you handle that?

or like i said, u can "unleverage" it and calculate... put in like 60grand or 70grand or whatever it is for 1 contract and u can ride it up and down and with hold all the swings.