I have been stacking for a long-time and in 2011 I remember that run to $49 quite well. I was so Happy at the time thinking it was headed to $500. You can imagine my frustration I felt when it crashed all the way back to $15. I was holding around 1,000 ounces at the time and I did not take profits. We all felt this frustration.
Like yourself, I experienced a lot of frustration with Silver over the years. I feel I wasted a lot of time and opportunities I could have made money on elsewhere. For example in bitcoin. The latest frustration I experienced with Silver was missing out on making multi-millions of Dollars by not investing in THETA at .05 cents in early 2020. I was following THETA very closely, but I felt Physical Silver was going to be the investment of a lifetime over THETA, so I did not buy THETA. Last year alone I had purchased over 2,000 ounces of physical silver during the beginning of the Virus outbreak.
I am glad I got the Silver as I only paid around $18 for it at the time last year after my commissions. With that said I don't Blame the Silver salesmen or guys like Bix Weir and many others who I follow. I do believe they are sincere and it's coming from their heart in what they believe in Silver. Eventually these guys are going to be right about Silver.
You hit the nail on the head with the Silver market being controlled and manipulated by The Bankers who have a Death-Grip on the Silver markets. They will not allow it to trade freely. The Paper market controls the physical market for now. As the U.S. prints itself into infinity investors are going to be looking for safe havens. I believe a lot of investors are going to be taking delivery of their metals and they are not going to feel safe holding paper contracts. What happens if they cannot deliver on those contracts? If will be an absolute buying frenzy on buying physical.
I feel the banks are very close to losing control over the entire silver market now. I have never seen shortages on Silver like I have been seeing in the past year or so. You got the CEO of the Perth Mint coming out and begging people not to buy Silver. LOL :)) This is so obvious to me. I believe we are getting closer and our belief in Silver will pay off. I plan on holding my physical silver with a Death Grip.
In the meantime people should diversify, and not do what you and I did by putting 100% of our capital into Silver. I missed so many opportunities by doing this. I agree with you 100% on this. I finally changed my strategy up now. I am trading for income and playing options. On SLV I like to buy out of the money calls and wait for a nice increase in the price and sell for nice profits. In February 2021 I made a very nice chunk of change on that SLV Spike. I had March $35 Calls that I had bought for around .14 cents go over a Dollar. I did lose on my 2nd round of March calls as Silver did not bounce again. By I only put back a portion of my Feb gains into those March calls.
I reloaded the June Calls for $30 and $35 really cheap in the last two weeks. I have 100 contracts of June 30th $30 calls for .20 cents. I got 165 contracts of the $35 Calls for .19 cents average. If Silver gets a $3 to $4 dollar spike these will easily go over $1 for nice profits. That is how I am trading this. I don't actually expect my contracts to go into the money and hit the strike price, unless their are some serious delivery problems in April or May? Then I will hold on longer. I just need SLV to move in the right direction. I will most likely sell these contracts by mid May if SLV doesn't move by then.
Take Care and Have a Happy Easter!
News 
Market Data 
Discover 
