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lewnk wrote:
Hi TieGe,
I was told by the counter before that if use other bank cheque, UOB will wait until the cheque is cleared. Also, the silver price will then base on day when the money is available to buy. After I heard this, I transferred my money to UOB a/c before I buy. This will ensure me I know what price I buy in. Especially, last few months, the price was fluctuated very fast.
Regards,
Lewnk
Hi,
I just opened a silver savings account on Friday. I asked whether I can pay by cheque (POSB), and was told that it is ok. So, I wrote a cheque and then was issued a passbook with the silver amount credited to my account immediately. Seems quite ok for me.
I was not informed about the cheque clearing part, but I was only informed that I cannot write a cheque on Saturday.
AGQ is an ETF called ProShares Ultra Silver. It seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery. The Fund’s investment advisor is ProShare Advisors LLC.
In general the volatility (both upside and downside) of AGQ is double that of SLV. For example, today market at the moment, SLV is up about 3%, AGQ is up about 6%.
lop wrote:AGQ is an ETF called ProShares Ultra Silver. It seeks to provide daily investment results that correspond to twice (200%) the daily performance as measured by the United States dollar fixing price for delivery in London. The Fund will not directly or physically hold the underlying silver, but instead will seek exposure to silver through the use of financial instruments, whose value is based on the underlying price of silver to pursue their investment objective. The benchmark price of silver will be the United States dollar price of silver bullion as measured by the London fixing price per troy ounce of unallocated silver bullion for delivery in London through a member of the London Bullion Market Association (LBMA) authorized to effect such delivery. The Fund’s investment advisor is ProShare Advisors LLC.
In general the volatility (both upside and downside) of AGQ is double that of SLV. For example, today market at the moment, SLV is up about 3%, AGQ is up about 6%.
I would rather buy iShares Silver Trust.
remember double the volatility is a double edged sword.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
lop wrote:AGQ is for those who like higher volatility. I myself stick to SLV as its volatility is already quite high for my heart.
Agree.
Silver prices already can easily move 10% to 30%...imagine doubling that volatility...
Hi Dennis,
This is my first posting.
I would like to find out the how you analyse the upside potential at USD49 and downside potential at USD35 for silver. Thanks.
lop wrote:AGQ is for those who like higher volatility. I myself stick to SLV as its volatility is already quite high for my heart.
Agree.
Silver prices already can easily move 10% to 30%...imagine doubling that volatility...
Hi Dennis,
This is my first posting.
I would like to find out the how you analyse the upside potential at USD49 and downside potential at USD35 for silver. Thanks.
Hi williamrlyeo,
US$49 was the recent high, so it acts as resistence level.
US$33, NOT US$35 is a recent support level, it has twice reached around that price but bounced up.
Hope this clarifies.
Support and Resistence level are taught in my Seminar, if you attended my stock seminar, this should be clear to you.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
ppsaries wrote:Silver is selling @ $48.14 in UOB, can still invest?
Dennis Ng wrote:18 Jul 2011
why is U.S. printing more money when they know that Borrowing more money will not solve their debt problem?
The answer is U.S. is going to "solve" their debt problem by devaluing US$.
China holds US$1 trillion U.S. govt bonds, if US$ drops by half, means that U.S. cut down its Debt to China by half.
This is what I think U.S. is trying to do..the price of Silver and Gold will shoot up very high if US$ drops further.
Next "stop" for Gold and Silver is US$1,700 and US$49...thereafter, it's US$2,000 and US$70...
When the Congress approves the debt ceiling, the price of gold/silver might drop for a short period of time.
Right now, the US already has no money. So, even when the debt limit is raised, they have to "find money" somehow to pay for its expenditure. How? By printing money. The increased debt limit gives them the license to print more money. This in turn will devalue the USD even more.
So, in the long run silver and gold prices will continue to rise. Dennis has mentioned silver price might shoot to US$70. I won't be surprised too if it hit past US$100 in the near future.
So when you looked back next time, silver at US$40, $45 or $50 will be cheap.
If you are planning to invest in silver, maybe it's better to wait until the debt ceiling saga is solved. (just my opinion)
ppsaries wrote:Silver is selling @ $48.14 in UOB, can still invest?
Dennis Ng wrote:18 Jul 2011
why is U.S. printing more money when they know that Borrowing more money will not solve their debt problem?
The answer is U.S. is going to "solve" their debt problem by devaluing US$.
China holds US$1 trillion U.S. govt bonds, if US$ drops by half, means that U.S. cut down its Debt to China by half.
This is what I think U.S. is trying to do..the price of Silver and Gold will shoot up very high if US$ drops further.
Next "stop" for Gold and Silver is US$1,700 and US$49...thereafter, it's US$2,000 and US$70...
When the Congress approves the debt ceiling, the price of gold/silver might drop for a short period of time.
Right now, the US already has no money. So, even when the debt limit is raised, they have to "find money" somehow to pay for its expenditure. How? By printing money. The increased debt limit gives them the license to print more money. This in turn will devalue the USD even more.
So, in the long run silver and gold prices will continue to rise. Dennis has mentioned silver price might shoot to US$70. I won't be surprised too if it hit past US$100 in the near future.
So when you looked back next time, silver at US$40, $45 or $50 will be cheap.
If you are planning to invest in silver, maybe it's better to wait until the debt ceiling saga is solved. (just my opinion)
Hi all,
just decide with both eyes open. Downside is US$33. Upside is US$49 to US$70.
Each of us need to make our own decision, do NOT expect others to make your decisions for you. Real Investors are always prepared to be wrong and will still get Richer even if they are wrong 6 out of 10 times.
Looks like many seminar graduates are NOT really Grasping what I teach, many of you are still investing and making decisions based on Hope, Greed and Fear. This is so disappointing, becos I have repeated such messages many, many times.
Please read and re-read what I wrote in the posting below:
Dennis Ng wrote:
28 Jun 2011
Do you need luck to make money from Investing? The answer is Of Course you don't need luck.
One you learn the Simple rule of only investing when the Upside Potential is at least double of the Downside Risks, you don't need luck to make money from Investing.
Do not underestimate the Power of this Upside double downside rule that Rich people use to make ALL Decisions, NOT just Investment decisions...
Frankly, ever since I started using this Rule to guide me in making decisions, even if I'm wrong 6 out of 10 times, I still get Richer and Richer over time. And it helps me to be clear of my own decision making process.
Decision Making, most of the times, become Simple and Fast once I apply this Rule to making decisions.
Note: just work out the numbers yourself. If upside at least double downside, and I look for min 50% upside, then max downside I accept is 25%.
If I'm wrong 6 out of 10 times, I would lose 6 x 25% = 150%.
While I'm just right 4 out of 10 times, I would Gain 4 x 50%= 200%.
So overall, I made 50%, NOT lose money.
If I make 50% total returns in 5 years, then my average annual returns is 10%.
The average person do NOT use such an Investment Rule to make decisions, they make decisions based on Hope, Fear and Greed, which make them forever worried and feeling insecure about their decisions...
Is such way of making decisions effective for them? Nope, most of them end up losing money on an Overall basis. Yetthey refuse to learn and change their ways, and continue to repeat their mistakes time and again...
getting excited and Buy when prices are High and Upside is limited while Downside Risks High...while frozen by fear and do NOT dare to invest when prices are Low and Upside is High while downside risk is actually Low...so ironical....but so reflective of the common Mistake most people make (including me, Dennis Ng) before I learn how to Invest from the Rich.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
hi zipink, kind to explain why "When the Congress approves the debt ceiling, the price of gold/silver might drop for a short period of time."? Thought it should be up just like stock market ?
zipink wrote:
ppsaries wrote:Silver is selling @ $48.14 in UOB, can still invest?
Dennis Ng wrote:18 Jul 2011
why is U.S. printing more money when they know that Borrowing more money will not solve their debt problem?
The answer is U.S. is going to "solve" their debt problem by devaluing US$.
China holds US$1 trillion U.S. govt bonds, if US$ drops by half, means that U.S. cut down its Debt to China by half.
This is what I think U.S. is trying to do..the price of Silver and Gold will shoot up very high if US$ drops further.
Next "stop" for Gold and Silver is US$1,700 and US$49...thereafter, it's US$2,000 and US$70...
When the Congress approves the debt ceiling, the price of gold/silver might drop for a short period of time.
Right now, the US already has no money. So, even when the debt limit is raised, they have to "find money" somehow to pay for its expenditure. How? By printing money. The increased debt limit gives them the license to print more money. This in turn will devalue the USD even more.
So, in the long run silver and gold prices will continue to rise. Dennis has mentioned silver price might shoot to US$70. I won't be surprised too if it hit past US$100 in the near future.
So when you looked back next time, silver at US$40, $45 or $50 will be cheap.
If you are planning to invest in silver, maybe it's better to wait until the debt ceiling saga is solved. (just my opinion)
