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  1. SILVER

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    How on earth has PSLV dropped 4.3% today whilst AGQ is only down 1.7% !?

     

    I'll answer my own question:

    http://blogs.barrons.com/focusonfunds/2012/07/12/ignore-todays-noise-in-sprott-silver-fund/?mod=yahoobarrons&source=email_rt_mc_body&ifp=0

     

    "The Sprott fund is down 3.8% in mid-Thursday trading at a time when the iShares Silver Trust (SLV) is up 0.3%. What gives! You ask. Sprott priced a follow-on offering of 18.1 million shares at $11.05, for proceeds of about $200 million, or $230 million if underwriters exercise their over-allotment option. Judge the offering by its relationship to the net-asset value, which stood at $10.71 as of yesterday, or a 7.2% premium to the market value, according to CEF Connect. The offering priced at 3.2% above last night’s NAV.

     

    In plain English, Sprott turned some of the fund’s premium into cash it can use to buy more silver in the future. And it got a better price for the shares than the value of the underlying assets."

     

    Ended up buying a teeny bit more at $11.01! :unsure::)

     

    AGQ actually closed the day up 0.68%

  5. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

     

     

    I have already shifted my deposits (partly away) from one of the Top Global banks, to the a strong "local" HK Bank.

    I think this move was early, but it costs me nothing

     

    HSBC to Hang Seng?

    I think HSBC are amongst the safest out there of the global banks.

  6. SILVER

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    I have has the task of learning about options on my list for several months now, your post finally spurred me onto doing something about it. I ordered the book Options for the Beginner and Beyond: Unlock the Opportunities and Minimize the Risks as it seems to have gotten some very positive reviews. I wonder how long it will sit with my other books before I get around to reading it. :unsure:

     

    Just ordered this too, thanks for the suggestion.

  7. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Sounds about right. A long remonetization of the metal at 20% a year. A counter-balance of sorts to the 20/ 30 year inflation of house prices.

     

    Why stuffed? If you want an 'earlier return', why not trade the volatility of silver?

     

     

    Surely silver will follow a similar route? I was hoping not to have to go in and out of gold/silver too much.

  10. SILVER

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    I started averaging in (small amounts) on Tuesday. Wish I knew when it would stop falling. There seems to be a lot of bearish sentiment floating round which is good, but gets me thinking I should be waiting until silver nudges below $27 before buying in bulk.

     

    I wish I understood options, so I'm going to have to give the calls and puts game a miss. Can you recommend any good books on options for lower intelligence people like me DrBubb.

  11. SILVER

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Every cloud has a silver lining. The ratio was due to bounce back. Silver remained surprisingly resilient against gold for quite some time, and if it goes still lower will swap my meagre holding of gold to silver.... that would be me pretty much 'all in' silver. :o

     

    Hi do you still have positions in AGQ?

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