SELL SOMETHING ??
Man it’s tempting to sell something here
Lots of PMs up 25% or more in 2 days
fear and greed , fear and greed . fear and greed.
GREED !
Man it’s tempting to sell something here
Lots of PMs up 25% or more in 2 days
fear and greed , fear and greed . fear and greed.
GREED !
I’m with you, Fully. Had an urge to sell half of a position, up over 50% in last two days…would have hit the high for the day and had some cash on hand…sigh. GREED!!!
How do you know the high of the day at 1030am…?
I dunno what you mean
Is that a wild assed guess or “evidence based science ?”
No guessing, no assuming…just human nature…
It’s overcoming market conditioning…
Can trade around core position but I still think chance of a spike to either old high near 1900 or round number of 2000. Like I said in this mornings post silver should slow down between 22-23.
My impression is that much depends upon one’s financial needs since one cannot readily pay bills in stocks or bullion. One also has to anticipate strange mishaps and the bills that can arise from them.
Another thing is how much time and effort one has available to look at the market.
Otherwise, I don’t see the point in selling other than to buy new stuff. If it has gone up too much relatively speaking — you don’t think it is undervalued and it is proportionally too much of your portfolio — sell some and buy something people haven’t latched on to yet. I think this market is young. It may do horrible things at times (silver related stuff especially), but I think the strategy is the same as before. You prune it when it is overgrown and plant seeds when you have seeds to plant where it is fertile.
Personally I think some things have gone up too fast (silver stuff too fast) but are going much higher still. Others haven’t more than perhaps begun to start. They all will do nasty things at times. I liked it better in some ways before this move, but I’ll accept it, as if I had any choice.
I prefer to go by individual companies’ charts rather than charts of indexes or quoted gold or silver charts.
I have been doing a lot of selling here. At the open I took all of my margin off. Then about an hour later bought back all of my naked puts then sold my option exposure.
So now I can weather any pullback, but still have plenty of upside if it continues higher.
Great tidbit of money/risk management there Plunger. I took notes. I’m continuing my fine tuning of the “whale hunting manual”… I’m thinking next important point to maximize a good whale hunt:
1- when max fear.. go contrarian when chart shows early signs of recovery.. create an over sized position while you get assets at a discount (see April ’20)
2- when fear subsides and replaced by greed… scale back from the over sized position.. to regular position (sell into greed at a premium)
3- when pullback occurs, you can survive and have ammo to buy again on the “cheap”, as those “robinhood types” went in over sized at the wrong moment (into greed) buying at premium.
4- rinse and repeat.
Edit: “3- when pullback occurs, you can survive and have ammo to buy again on the “cheap”, as those “robinhood types” who went in over sized at the wrong moment (into greed) buying at premium, need to sell on margin calls.”
per silverboom’s comment above: During this latest run for the past few months, on up days there always does seem to be some kind of pullback between 10:30am and 1pm.
YesI agree, has been for years it seems…
Day traders…Market Makers…Scalpers…?
European close.