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Exit strategy for silver

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April 20, 2011 – Comments (16)

I know there are some people on here that will say silver is under/overvalued at practically any price.

But for those of you not subscribing to that, what is your exit strategy?  We are near $50, and that was the big price target for most.

Sinchi, I am mostly interested in your take on this.  I recall you saying you would sell most of your silver holdings by $50, then gradually shave off the remainder on the way up to $100.

You did it.  You made the ultimate call (and I am sure a crap load of money).  You were absolutely right and I applaud the living hell out of you.  But now what?  What will you invest in now?  You probably have something up your sleeve and I was wondering what your plan is when silver hits $50

16 Comments – Post Your Own

#1) On April 20, 2011 at 2:11 PM, chk999 (99.97) wrote:

Figure out what you exit plan is. Do it when the market is closed. Write it down. Figure out what you will do under a few bullish and bearish scenarios.

The follow the plan absolutely. You do you best thinking not in the heat of the moment.

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#2) On April 20, 2011 at 2:12 PM, mtf00l (45.52) wrote:

Amen to that

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#3) On April 20, 2011 at 2:35 PM, Betapeg (< 20) wrote:

Buy BNCN to hedge a position in SLV.

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#4) On April 20, 2011 at 2:38 PM, Valyooo (99.40) wrote:

CHK,

I agree 100% with you..I am mostly just wondering what other peoples plans are, and especially if they ever plan on selling or if they will perpetually push their price target higher

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#5) On April 20, 2011 at 2:53 PM, chk999 (99.97) wrote:

I sold all my SLW and GDXJ fairly recently. I can't call tops or bottoms and had good profits and decided to call it a day.

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#6) On April 20, 2011 at 2:56 PM, ag77840 (21.97) wrote:

I am very tempted to unload all my EXK holdings for a 43% gain, but it's going to be so painful to watch it go all the way to $15 a share. 

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#7) On April 20, 2011 at 3:21 PM, ChrisGraley (29.89) wrote:

I was all set to dump 1/3 of my holdings at $50 which would be enough to pay for all of my silver holings plus give me a decent profit. The more I look at it though, the more I see a situation that is unchanged. I may sell a little, but right now I'm in no hurry.

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#8) On April 20, 2011 at 3:26 PM, Jbay76 (< 20) wrote:

you Fools should check out ISVLF, they are producing amazing amounts of silver out of the ground as a junior miner...totally under the radar for the moment.

And on that note, if the company is doing great, why dump it?  Some of these miners are bringing up the PM for free due to incidentals brought up as well, Alexco Resources comes to mind.  In this situation, the company is going to be amazingly profitable.

For those who have not sold EXK, look at their April 2011 presentation first.  If you still sell, let me know your reasoning if you don't mind.

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#9) On April 20, 2011 at 3:42 PM, L0RDZ (85.28) wrote:

Some peoples exit strategy would be to relinquish only at gun point :)

 

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#10) On April 20, 2011 at 7:27 PM, XMFSinchiruna (27.80) wrote:

This should convey my thoughts on the matter:

http://www.fool.com/investing/general/2011/04/20/1500-gold-is-just-the-beginning.aspx

 

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#11) On April 20, 2011 at 10:01 PM, dbjella (< 20) wrote:

I plan to hold 5% of my portfolio in physical gold and silver forever or at least give it to my kids to worry about :)

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#12) On April 21, 2011 at 2:06 AM, whereaminow (22.15) wrote:

Val,

Here's an answer, but it was so long, I had to make it another thread. Sorry to hijack..

David in Qatar

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#13) On April 27, 2011 at 12:32 AM, HarryCarysGhost (99.70) wrote:

I did'nt see this until now.

I have a rule if any stock I own more then doubles, and I can cover taxes and commissions I sell. Let the remaining shares ride for free.

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#14) On April 27, 2011 at 12:50 AM, buffalonate (94.77) wrote:

I bought a silver ultrashort when it was approaching 50.  I made a 13% profit in 2 days.  I cashed out.  Anytime people are hyping something could hit whatever number I automatically assume it is a great time to short. 

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#15) On April 28, 2011 at 3:39 AM, Valyooo (99.40) wrote:

Harry normally i agree with you but sometimes if you are very confident in an investment you gotta let it all ride and not cut short your gains

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#16) On April 30, 2011 at 5:56 PM, HarryCarysGhost (99.70) wrote:

Harry normally i agree with you but sometimes if you are very confident in an investment you gotta let it all ride and not cut short your gains

That's very true man, my first investments in BUD are close to tripleing yet I have no intention of selling. Silvers a different animal it could spike down in a heartbeat or it could continue it's rise(which I suspect will be the case)

I sold half because I lumped it into the spec part of my port. At this point I've eliminated the risk while still having Silver exposure.

I honestly don't want to see PM's at outrageous levels since that would mean we are in serious trouble as a country. Guess I'm just hoping that somehow someway we can slowly start turning the ship before we hit the iceburg.

So the rule only applies when I'm speckin ; )

 

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