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12-02-2013, 12:11 PM
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#1
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Carl, nn5i
Join Date: Sep 2011
Location: Tallahassee, FL
Posts: 1,441
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Dumb luck
Two or three weeks ago I decided silver was about to go up, and thought I'd buy some silver bullion. Silver was about $22.70 an ounce that day, so I bought 100 ounces on eBay for $2300.
Several days later the guy refunded my money, saying he couldn't deliver 'cuz he's in Afghanistan and his brother-in-law had sold the bar. So I got all my money back.
Since then, I've been following silver on the Kitco web site, and silver has lost more than 10% of its value.
Saved from my folly by pure dumb luck.
__________________
-- Carl
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12-03-2013, 10:25 AM
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#2
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Old Member
Join Date: Oct 2010
Location: In Gods country
Posts: 253
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Sometimes you gits th bear, sometimes you gits got by th bear
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12-03-2013, 10:45 AM
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#3
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Carl, nn5i
Join Date: Sep 2011
Location: Tallahassee, FL
Posts: 1,441
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This morning silver is at about $19.20, down more than 15% from when I decided it was about to go up.
__________________
-- Carl
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12-03-2013, 12:16 PM
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#4
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Old Member
Join Date: Oct 2010
Location: In Gods country
Posts: 253
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Carl, It's much, much better to be lucky than good any day.
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12-04-2013, 06:19 AM
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#5
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Senior Member
Join Date: Nov 2007
Location: Mobile, on the road
Posts: 1,139
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That is why they call it "Playing the market" like they do "Playing the ponies" at the race track.
You got lucky and broke even.. Most don't do that well.
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12-10-2013, 06:23 AM
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#6
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Junior Member
Join Date: Dec 2013
Posts: 14
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From the old guy, I've learned at my old age that the best investments in life are the good memories we invest in. At the end that is the joy we get the greatest payback on. Cheers and 73's (KL7IEK)
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12-10-2013, 07:36 AM
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#7
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Administrator
Join Date: Nov 2007
Location: Fayetteville, GA, USA
Posts: 3,017
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Welcome aboard nightstars
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12-10-2013, 12:57 PM
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#8
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Junior Member
Join Date: Jan 2009
Location: Middle Ga (Griffin Area)
Posts: 19
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On the other hand, silver, unlike paper stocks, will never be worth 'nothing'. Go up & down like the rest of the market, sure. But, in my case, I buy silver an ounce at a time (not having large chunks of cash to play with) so my 'losses' are also in smaller chunks. The overall trend over the past 10 years is 'up', however. I had the urge to buy in hand silver about 10 years ago when my 401k was in the futures market (worst possible place, by the way) with $80k floating out there. IF I hadn't listened to the 'stock market expert' broker (and IF he hadn't pulled a totally stupid and amateurish move with no stop-loss marker), putting that kind of money into $3/oz silver, I'd now have 'bout $500k at last weeks prices. Instead, I get to work until I drop dead, with no more retirement funds, evaporated in a single day's trading loss.
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10-06-2014, 07:01 AM
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#9
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Carl, nn5i
Join Date: Sep 2011
Location: Tallahassee, FL
Posts: 1,441
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And this mrning silver is at about $17 -- a four-year low. Still on the way down, perhaps. I get luckier, and dumber, every day.
__________________
-- Carl
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10-06-2014, 07:51 AM
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#10
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Senior Member
Join Date: Jun 2012
Location: Maine
Posts: 709
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Kind of brings to mind the Hunt brothers and Silver Thursday.
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10-06-2014, 10:17 AM
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#11
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Carl, nn5i
Join Date: Sep 2011
Location: Tallahassee, FL
Posts: 1,441
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Quote:
Originally Posted by N3LYT
Kind of brings to mind the Hunt brothers and Silver Thursday.
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Indeed it does. That was in 1982 or early 1983, I think. Lessee -- one of them was Nelson Bunker Hunt, and I don't recall the other's name, or even how many brothers there were. Should have stuck to making ketchup.
LATER
Ah, just Googled it. It was 3/27/1980 when Nelson and Herbert missed a margin call and silver plummeted from abut $48 to about $11. How the mighty fall.
__________________
-- Carl
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10-07-2014, 02:37 PM
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#12
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Administrator
Join Date: Nov 2007
Location: Fayetteville, GA, USA
Posts: 3,017
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And I bought some hot performing airline stock... just before that idiot with Ebola flew back from Africa and devalued all airline stock even though the airline business is booming, fuel price is dropping and projections for growth are excellent.
But I think I will stand pat. Hills and valleys.
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10-07-2014, 07:03 PM
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#13
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Senior Member
Join Date: Jun 2012
Location: Maine
Posts: 709
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Just before the market had a moment I cashed out bought a new truck, tractor, built a 40K garage/barn to put it in and put all my original money back into the bank. Maybe time to go play again.
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10-07-2014, 07:19 PM
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#14
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Administrator
Join Date: Nov 2007
Location: Fayetteville, GA, USA
Posts: 3,017
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Quote:
Originally Posted by N3LYT
Maybe time to go play again.
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Ahhh, maybe not. 
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12-01-2014, 07:23 PM
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#15
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Carl, nn5i
Join Date: Sep 2011
Location: Tallahassee, FL
Posts: 1,441
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And today it rallied to close at $16.425. I'd have lost my, um, senses. Or something. It's lost more than 27% in recent months.
__________________
-- Carl
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12-02-2014, 03:36 PM
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#16
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Administrator
Join Date: Nov 2007
Location: Fayetteville, GA, USA
Posts: 3,017
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Quote:
Originally Posted by Radio
And I bought some hot performing airline stock...
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Which after dropping $5 has rallied back to get me $6 a share gain. Now to figure out when to bail... 
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12-02-2014, 03:47 PM
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#17
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Carl, nn5i
Join Date: Sep 2011
Location: Tallahassee, FL
Posts: 1,441
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Quote:
Originally Posted by Radio
I bought some hot performing airline stock...Now to figure out when to bail...
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Aha! You are D. B. Cooper.
__________________
-- Carl
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12-02-2014, 07:35 PM
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#18
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Administrator
Join Date: Nov 2007
Location: Fayetteville, GA, USA
Posts: 3,017
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Quote:
Originally Posted by NN5I
Aha! You are D. B. Cooper.
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Dammit Carl don't give it away! I only have 3 more parachutes!!
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04-24-2015, 07:27 PM
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#19
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Carl, nn5i
Join Date: Sep 2011
Location: Tallahassee, FL
Posts: 1,441
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Today silver closed at $15.755. Lower and lower ...
__________________
-- Carl
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04-27-2015, 12:00 PM
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#20
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Member
Join Date: Nov 2012
Location: Michigan
Posts: 42
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Quote:
Originally Posted by NN5I
Today silver closed at $15.755. Lower and lower ...
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You can look at it as a potential opportunity when the trend turns.
__________________
John
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