Thursday, July 11, 2013

PMs Bounce Back? I Told ya they were locked in

Back when I was playing the market I had only one simple rule.

Share prices (or bonds, parcels, whatever) would go up big the day after I sold whatever number of them I had.

Well last week I noticed the precious metal drops had significantly hit the ETF prices as well and the silver ETF price was damned near down to a four year low.

Now four years ago I made a weird little move and cleaned out my then employee stock and bought silver in almost the exact same scenario as I was seeing develop last week. The end result was that the company stock went up a few dollars but silver soared from the teens into the mid thirty dollar range and I then dumped it making a tidy little sum. I took the gains then and turned them into sustainable tangibles but then re-invested the original amount back into company stock.

So last week I thought I might try it again since the circumstances appeared almost exactly as before. I dumped the company shares that I no longer work for and by the time the entire transaction completed was  looking at yesterday to make my final move.

Of course the company stock I sold rose by almost 4% in the space of a few days as was typical with all my prior dealings, making me kick myself for selling it. Then this morning what do I see but as of this writing a 5% jump in silver ETF prices.

Heh :)

All because Helicopter Ben finally came back and said they weren't going to stop easing. Which I told you they couldn't. The fact that they were even saying they would was bogus hogwash anyway. They can't. It really is that simple.

We are of course talking about funny money here anyway at this point. The market is so rigged a low information trader (like me) can't really make it anymore regardless, as the facts rarely fit into the logical outcomes with all the manipulation. The company stock I dropped was paying dismal dividends despite their price rise and has been for years, so it will be interesting to ride this horse out one more time. I turned the original investment into cash that i left in the account because the wife would kill me if I took money out so besides normal inflation loss the money is secure regardless.

I have no idea what the metals spot price is doing at the moment but now maybe a good time to add to your physical precious metal holdings if you can. It appears the investors still stupid or crazy enough to mess with such things are looking for the proverbial safe haven once again so the price should go up from here once more.

Then again with all the hidden manipulation you more than likely have as much chance of winning the lottery as you would betting on a repeat scenario like I am talking about.

Ya just never know.

Keep Prepping Everyone!!!





3 comments:

  1. You are way better then me, no silver, no gold, and no weapons. I have some preps but not much. But I am way better then the average joe. So many go to the store daily.

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  2. We are also better than the average Joe. Still looking to add to the food storage, than land & buy a small homestead. Just praying for enough time, which seems to be what every prepper wants: more time.

    ReplyDelete
    Replies
    1. *food storage, then land & buy

      Delete

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