Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: GROUND ZERO™ who wrote (54080)	8/29/2013 11:44:17 AM
From: Machaon	Read Replies (1) of 222153

I did write calls on all my long gold and silver positions this morning... It's turned out to be a very good move. Nice going! I'm not going to be greedy and complain if these metals continue higher Then again, what's the greed factor as the metals move lower? I'm glad that I followed suit and wrote covered calls on my SLV. I've never written calls before, although I have purchased my share of calls and puts. It's been an interesting and learning experience. My covered calls have appreciated nicely. Thinking out loud... but if I buy them back at a nice profit, I lose the $2 per share protection to the downside AND I don't realize any profit because the shares are comparably lower in price! So..... buying back the covered calls is a losing proposition unless silver goes back up again. As a catcher of falling knives investor who buys on dips and then averages down, my best bet would be to hold on for a while and hope that silver corrects a little more, or even revisits $21 per share. Any thoughts on the metals, or metal premonitions from your model?

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