Sell my SLV etf?

[Bushpilot]

Ok, so here’s the deal, bought an etf of silver for $22 a couple years ago. Now that it topped $100 fiat I’m think about taking some profit off the table or selling it all. Should I sell 50%, 75%, or all of it? I wanted to buy double the amount I did at the time but the broker talked me out of it, and I remind him every time we have a conversation and it grates on him. Ideas anyone?

Bushpilot
Original GIM member

 

[foolsgold]

Wait til $120.

 

[Someone_else]

... the broker talked me out of it, and I remind him every time we have a conversation and it grates on him. Ideas anyone?

First, remind him again.

Next, I would make sure of the tax status of the fund (assuming you can't avoid that.) Is it "just another equity fund" that will get long term capital gains, or is it classified as precious metals ("collectibles") that will be added to "ordinary income"? That could be a big difference.

Think of what you want to buy in the near future. Maybe an upgrade to your business or livelihood? Or some other worthwhile investment? Maybe even a few nickels and dimes for personal pleasure.

If you want to "lock in your winnings", look for something else that has similar advantages to your silver, but has not appreciated yet.

 

[nickndfl]

You can rotate half into some miners and be okay probably. The miners should outperform the metals going forward, but I just doubled down on AGQ which is like SLV 2x.

 

[Bottom Feeder]

Turn it into REAL silber.

 

[Voodoo]

Turn it to the real stuff is a very good option. Is this in a retirement account though? Will there be taxes?

Another option would be to switch from SLV (which likely has nothing but BS) to PSLV (which might actually give you some silver ownership).

 

[pmbug]

China and India are still buying silver (SGE/China and MCX/India >> LBMA spot). As long as that remains true, I expect silver will continue going up. Rotating out of SLV to pursue a different goal (stack physical, gamble on higher returns, tax management, etc.) may make sense for you depending upon your situation, but fear of a crash/top? I personally don't think we are there yet.

 

[Ttazzman]

cant give you advice ....but i can tell you what i did..........i sold all my silver etfs.....SLV and PSLV..........around 85-90 ...so a couple of wks ago.........and put about 60% into SLVR etf........which is silver miners plus it has something like 15% PSLV in it .......

 

[nickndfl]

SLVR is on my.list along with SILJ. I do not own them because they have been trailing AGQ for 6 months.

Think about HYMC, EXK and GDXU which is a 3x Au/Ag ETF if you want to reach for more alpha.

My best performer today was AGQ +13% and lately it's been HYMC +95% in one month. GDXU has been a life changing +1200% in one year.

The real king of trading is Francis Hunt, the Market Sniper. He took $70k and turned it into millions in less than a year using options.