Seeking Alpha
  • David Urban
    Grabbed a $SLW 2013 call.
    9/22/11
    Reply (18)
    • inquisitivemind7: That's a tricky trade since it requires some timing. Be prepared for short-term pain regardless.
      9/22/11
    • David Urban: I can hang for some short-term pain. That is why I went out to 2013. I know gold and silver will be much higher by then.
      9/22/11
    • inquisitivemind7: Most likely, but we'll see. If we have another 2008 sell-off, gold and silver will be in a world of pain with everything else.
      9/22/11
    • David Urban: I think we are heading there but gold and silver will be safe havens this time. The story behind both is better known.
      9/22/11
    • inquisitivemind7: so wouldn't it better to buy the call option after such a crash for better entry?
      9/22/11
    • David Urban: It is hard to say if and when the crash comes. There is a lot of panic and fear in the market which I like.
      9/22/11
    • David Urban: We are touching the 50 wk ma which is support for SLW
      9/22/11
    • inquisitivemind7: Don't you worry, we will continue to correct. Don't know about PMs but they SHOULD correct as well unless there are bankruptcies.
      9/22/11
    • inquisitivemind7: You won't even want to hear the word "support" when this is all done. That's when you set your buy orders and aggressively start buying up.
      9/22/11
    • David Urban: I am worried more about a strong rally in the major indices in ignorance of all the problems in Europe.
      9/22/11
    • David Urban: I sent this out as an email last night. I think you are missing 4 important events with today's selloff that were not related to the Fed
      9/22/11
    • David Urban: First, an unnamed bank borrowed $500 million for 7 days from the ECB.Second, the IMF urged European banks to raise more capital.
      9/22/11
    • inquisitivemind7: another strong rally/dead cat bounce as I like it to call it are very common in bear markets but make no mistake,mkt will make go down after
      9/22/11
    • David Urban: Second, the IMF urged European banks to raise more capital. Third, Moody's downgrade of US banks.
      9/22/11
    • David Urban: Fourth, the House voted against an appropriations bill which may shutdown the government at the end of September.
      9/22/11
    • David Urban: The market was looking for some sort of lifeline from the Fed but the 3 dissenting votes shook the market
      9/22/11
    • inquisitivemind7: worsening macro and micro (with lag time) data will drive the market lower. just be patient. we will go down before up again, I promise you.
      9/22/11
    • inquisitivemind7: *in a substantial way, minor 5-10% rallies here and there don't count.
      9/22/11