drbob66

Silver Prices Are About to Fall

"based on charts I've examined, the way I see things, silver prices could temporarily fall to $11 per troy, again, or even lower, before March 2010. "

Well, according to MY chart analysis, silver may pull back to around $14.50 (NOT $11)...and then continue upward to $20. Sure, I could trade around that and attempt to avoid a maybe 10-15% decline in paper gains...but instead I think I'll take the opportunity to ADD to my silver position on weakness.

"Prognostications as to exact prices, of course, are seldom accurate."

At least you got that part right. Still, I say silver will hit $20 before it sees $11.

Time to Switch Out of Freeport-McMoRan

"What lessons have you learned about investing in the stock market from your mistakes as well as your successes? "

Sorry, Marc...I can't help you out there. Just this week I learned that I should've bought NYX yesterday. And so far this year, all I've learned is that it's possible to lose a lot of money in the stock market.

Seriously, though, my best trades this year have been in financials (C, STT, NLY, GE)...nice panic sell-offs and good bounces. As for investments, well...ask me again in a year or two. Maybe FCX will be >$18 by then.

"how about some comments about your best investment choices and favorite stocks."

At the moment, I like FLR, WLT, NLY, UTX, MRK, BA, RIG. And CHC is my most recent "Phoenix stock" (bought at $0.15)



On Dec 04 12:35 PM Marc Courtenay wrote:

> I'm grateful for you comments. After I sold FCX I decided to buy
> some shares of NYX at around $18.54. Today, the next day, last I
> checked they were at $20.76 and FCX was trading around $18. FCX will
> probably weather the storm and do fine in the long-term. Now, how
> about some comments about your best investment choices and favorite
> stocks? Which companies do you think are best poised to grow and
> thrive over the next 12 months? What lessons have you learned about
> investing in the stock market from your mistakes as well as your
> successes? Aren't we all trying to help one another improve our results?
> That's the beauty of a site like Seeking Alpha.

Time to Switch Out of Freeport-McMoRan

That's the trouble with bottom-feeding: when you set your buy-stops 20% below the current price, if the order DOES execute, you'll probably going to question whether you really want the stock. There's often a REASON why a stock drops 20%.
Oh well...I bought some FCX at 17.50 yesterday (maybe I bought the author's shares?). Haven't decided whether to sell any yet. I'll probably hang on unless the price action starts looking sketchy. At some point, copper prices will have to go back up, right?