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Hopped out of SLV calls
shigsf wrote in silver_traders
Took a 25% gain, and of course now wish I would have taken the 60%+ on Thursday or Friday.  Feeling iffy about where silver goes from here, so took my small option profit and will look to reposition when the dust settles and the USD DCB peters out.  Of course, that could happen overnight, but something's telling me we have another down day or two. 

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I'm guessing there's a ton of money waiting to buy a ten percent correction, which may foreclose the possibility.

I LOVE a 25% gain, so congrats!

Thanks, Rhyme. Will definitely take it, though watching spot now it's looking like I might have fallen for a good old fashioned shake out! That's okay, I plan to be riding another batch of calls up very shortly here!

I don't know how much spot's up this evening, but I rarely depend on evening strength (or weakness) carrying over to the next day's session. Maybe it will; maybe it won't.

Possibly if silver's up (or down) on TRULY important news, or maybe if the price is up or down bucks rather than cents--otherwise, I don't put too much stock in off hours gyrations.

While merely my opinion, I think we will get countless chances at profitable long side trades. For my part, it's my INTENT never to take a loss on any trade in the sector--barring my fundamental view that we're in a cyclical bull market changing. Whether I'll deviate from that intent on rare occasion, only time will tell.

"...I rarely depend on evening strength (or weakness) carrying over to the next day's session. Maybe it will; maybe it won't. Possibly if silver's up (or down) on TRULY important news, or maybe if the price is up or down bucks rather than cents--otherwise, I don't put too much stock in off hours gyrations."

Excellent points, I probably watch the ticker a bit too closely at night. Sure enough, silver's given up $.30 or so of the $.45 or so it tacked on in closing US and early Hong Kong trading.

Unless one is trading futures, closely watching the evening action in metals may do more harm than anything else.

It's too frequently meaningless by 9:30 EST the next morning. The speculator can get emotionally worked up (greedy, fearful, regretful, whatever), when there's really no need/basis. It's hard enough to ignore emotion's miscues for seven hours a day; doing it for twenty-four may be asking too much of oneself.

....only to buy back in higher today........

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