So I woke up to find $2500 missing

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  • Choker
    Confirmed User
    • Apr 2001
    • 9024

    #1

    So I woke up to find $2500 missing

    What a dumbass I am. I had it set in stone to never buy silver when above 33 but sure enough I bought 1k ounces yesterday at 34 melt. When I woke up this morning each is worth 31.50

    Fuck fuck fuck fuck

    Lesson learned here is stick to your buy price and don't give in.
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  • BIGTYMER
    Junior Achiever
    • Nov 2004
    • 17066

    #2
    You'll get it back.

    Comment

    • EddyTheDog
      Just Doing My Own Thing
      • Jan 2011
      • 25433

      #3
      Keep everything under the mattress for a few years....

      Comment

      • Chris
        Too lazy to set a custom title
        • May 2003
        • 27880

        #4
        [email protected]

        Comment

        • Mutt
          Too lazy to set a custom title
          • Sep 2002
          • 34431

          #5
          Originally posted by Chris
          ha that was great.
          I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!

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          • Houdini
            Confirmed User
            • Dec 2001
            • 1651

            #6
            Silver fell below the 200 and 50 mda today. Could get to $27 or below. Bought $25 Dec puts to hedge.

            Comment

            • Choker
              Confirmed User
              • Apr 2001
              • 9024

              #7
              Originally posted by Houdini
              Silver fell below the 200 and 50 mda today. Could get to $27 or below. Bought $25 Dec puts to hedge.
              Yeah thing is that fucks me up is silver and gold is now following the market. Has it ever done this historically?
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              • V_RocKs
                Damn Right I Kiss Ass!
                • Nov 2003
                • 32449

                #8
                Sticking to buy price is what sets the men apart from the boys...

                Very similar to playing poker professionally... Can you stick to the percentages and not your gut?

                Comment

                • biskoppen
                  Confirmed User
                  • Mar 2003
                  • 5809

                  #9
                  I completly withdrew from all sorts of investments a few months ago after taking a $50k+ loss on some stupid ass stocks I bought..

                  I'm going to buy $100k worth when I THINK this crisis hits rock bottom and then keep'em like forever or something..

                  But when the fuck this rock bottom is I do not know ;)
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                  • Dcat
                    Confirmed User
                    • Aug 2003
                    • 1607

                    #10
                    No biggie, in a few months you'll be calling it "dumb luck."

                    The banking criminals can only keep artificially pushing it down for so long.

                    Comment

                    • Kenny B!
                      Confirmed Abuser
                      • Jun 2003
                      • 5718

                      #11
                      Originally posted by biskoppen
                      I completly withdrew from all sorts of investments a few months ago after taking a $50k+ loss on some stupid ass stocks I bought..

                      I'm going to buy $100k worth when I THINK this crisis hits rock bottom and then keep'em like forever or something..

                      But when the fuck this rock bottom is I do not know ;)
                      It's impossible to time the market, I can admit that the market plays me, not the other way around.

                      I now put my money in real estate, at least I get a physical asset for my cash. I'm done buying shares in some company that can go any which way, or have an accounting issue and there goes my investment yet again.

                      As for silver and gold, I know they say it's safe but is it really? You're buying a chunk of metal that there's no shortage of and the price fluctuates with the stock market. At least with precious metals you get something for your money that you can touch. So I guess it's better than a statement saying you own some shares in a company trading at 20x earnings.

                      I've lost enough on the markets to know it's not for me, if other can make huge money with it they are smarter than I am.
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                      • JFK
                        FUBAR the ORIGINATOR
                        • Jan 2002
                        • 67373

                        #12
                        Bid on 1k ounces at the auction the other day, went for 32500cdn + 20% buyers premimum, at that price I said fuck it and dropped out earlier. The people who ended up with it were hoping for an increase Sold apx 7 oz of gold yesterday, today it dropped almost $34.52 cdn or 40.40us

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                        • crockett
                          in a van by the river
                          • May 2003
                          • 76818

                          #13
                          I never understand what something so simple is not understood when it comes to the stock market.

                          You don't make or lose a thing until you sell.
                          In November, you can vote for America's next president or its first dictator.

                          Comment

                          • Houdini
                            Confirmed User
                            • Dec 2001
                            • 1651

                            #14
                            Originally posted by Choker
                            Yeah thing is that fucks me up is silver and gold is now following the market. Has it ever done this historically?
                            I haven't gone through the historic charts yet to see if/when it ever happened. It could have previously happened in deflationary times though. It doesn't make sense right now.

                            Comment

                            • Kenny B!
                              Confirmed Abuser
                              • Jun 2003
                              • 5718

                              #15
                              Originally posted by crockett
                              I never understand what something so simple is not understood when it comes to the stock market.

                              You don't make or lose a thing until you sell.
                              Right, but at some point when a stock is tanking where do you cut your losses? Take the great Nortel and now RIM both were supposed to be solid companies, one went from $125 to nothing and the other $125 to now $19... sell or hold all the way down, either way you can consider it a loss.

                              Two examples of hundreds out there. I'll invest in something I have some control over.

                              People make a killing on the market, I made fantastic money for a while. Then like at the black jack table I gave most of it back.
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                              • Frank21
                                Confirmed User
                                • May 2009
                                • 733

                                #16
                                How did that happen?
                                silver was supposed to top 50 dollars by the end of the year!

                                Comment

                                • stocktrader23
                                  Let's do some business.
                                  • Jan 2003
                                  • 18781

                                  #17
                                  Trade on margin, only put as much as you're willing to lose in your account and use less money to hold more contracts. If it drops enough to break you oh well, if it goes the right direction you earn 10, 20, 50 times faster than you would otherwise.

                                  You're welcome.

                                  http://www.oanda.com

                                  You're welcome again.


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                                  • Frank21
                                    Confirmed User
                                    • May 2009
                                    • 733

                                    #18
                                    Originally posted by Kenny B!

                                    As for silver and gold, I know they say it's safe but is it really? You're buying a chunk of metal that there's no shortage of and the price fluctuates with the stock market. .
                                    Now that is not the case with silver there is a massive shortage on silver.
                                    Just about all the massive silver stockpiles have been used up in electrical aplliances and some on silver investors.
                                    Silver has unique propertys wich can not be replicated with cheaper materials and everyday they find new uses for silver while less and less silver is avaible to buy.

                                    Comment

                                    • raymor
                                      Confirmed User
                                      • Oct 2002
                                      • 3745

                                      #19
                                      Originally posted by Choker
                                      Yeah thing is that fucks me up is silver and gold is now following the market. Has it ever done this historically?
                                      When I used to trade silver, I knew it had long followed gold, trailing by a couple of weeks. I was buying at 3.80usd and selling at 4.20usd, that's how king ago it was, but at that times silver had a 30+ year history of trailing gold. Has it trailed gold for the last 20 years?
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                                      • Mr Pheer
                                        So Fucking Banned
                                        • Dec 2002
                                        • 22083

                                        #20
                                        Buy more today to make up for it.

                                        Comment

                                        • raymor
                                          Confirmed User
                                          • Oct 2002
                                          • 3745

                                          #21
                                          I agree you don't count it until you sell.
                                          On the other hand, Trump, who knows something about making money, points out that money is made by buying smart, as Kenny pointed out:

                                          Originally posted by Kenny B!
                                          Right, but at some point when a stock is tanking where do you cut your losses? Take the great Nortel and now RIM both were supposed to be solid companies, one went from $125 to nothing and the other $125 to now $19... sell or hold all the way down, either way you can consider it a loss.

                                          Two examples of hundreds out there. I'll invest in something I have some control over.

                                          People make a killing on the market, I made fantastic money for a while. Then like at the black jack table I gave most of it back.
                                          RIM was an upstart with a single product computing against much better capitalized, experienced, and diversified competitors like Motorola, in a fast moving and highly competive tech market. It was a long shot from the get-go. At $10-$20 it was a gamble. At it's peak of $125 it was a bad buy, period.
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                                          • Kenny B!
                                            Confirmed Abuser
                                            • Jun 2003
                                            • 5718

                                            #22
                                            Originally posted by stocktrader23
                                            Trade on margin, only put as much as you're willing to lose in your account and use less money to hold more contracts. If it drops enough to break you oh well, if it goes the right direction you earn 10, 20, 50 times faster than you would otherwise.

                                            You're welcome again.
                                            Trade on margin is the worst advice you can give anyone. That's how I got killed back in 2001, I was trading huge volume on margin and making great money until the crash.

                                            I had to sell good stocks to cover the bad ones that had margin calls. Once you sell, it's gone and you can't ride it out.

                                            I still hold some stocks that I picked up in 2008 and am doing well on them, they are my long term holds, but that doesn't represent much of my overall asset base.

                                            I am not doubting the skills some of you guys have, I have learned that I personally can't time the market. So real estate it is for me.
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                                            • Choker
                                              Confirmed User
                                              • Apr 2001
                                              • 9024

                                              #23
                                              Originally posted by crockett
                                              I never understand what something so simple is not understood when it comes to the stock market.

                                              You don't make or lose a thing until you sell.
                                              I sell all day long online, so I am losing money in real time as I adust my prices according to the spot price of silver. Loose some win some. I did buy a lot when it bottomed out last month and sold for a good profit. Keep in mind I don't buy silver bars, I buy 90% US silver coins.
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                                              • Fletch XXX
                                                GFY HALL OF FAME DAMMIT!!!
                                                • Jan 2002
                                                • 60840

                                                #24
                                                Originally posted by BIGTYMER
                                                You'll get it back.

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                                                • stocktrader23
                                                  Let's do some business.
                                                  • Jan 2003
                                                  • 18781

                                                  #25
                                                  Originally posted by Kenny B!
                                                  Trade on margin is the worst advice you can give anyone. That's how I got killed back in 2001, I was trading huge volume on margin and making great money until the crash.

                                                  I had to sell good stocks to cover the bad ones that had margin calls. Once you sell, it's gone and you can't ride it out.

                                                  I still hold some stocks that I picked up in 2008 and am doing well on them, they are my long term holds, but that doesn't represent much of my overall asset base.

                                                  I am not doubting the skills some of you guys have, I have learned that I personally can't time the market. So real estate it is for me.
                                                  Slow down a minute and look at it again. First of all, the margin is much larger on for the Forex market. I think Oanda maxes out at 50:1 but most go to 200:1.

                                                  Now go look at a chart and how much a pair moves in a day / week / month. Let's say one goes up and down 30 or 40 points at a time then moves big at 200-2000 points either direction.

                                                  You might put $1000 in and buy / sell with $200 on margin to control $10,000 worth of contracts. If it goes down say 50 points (pulling out of my ass) your margin call shuts you off. If it goes up you can turn $1,000 in to $5,000, $10,000, $25,000 in no time. It doesn't take many winners at 25 times your total risk to get way ahead and have a nice chance of staying there.

                                                  Let me say it like this, I've taken a sum of money on Oanda and bought gold with one while shorting it with the other. Because they were in separate accounts the wins didn't pay for the others losses. At some point one margins out and the other is already say 50 points ahead. You can throw your remaining margin behind the current winner and give it even further that it can backtrack before losing. This gives it more room to fluctuate before going the direction you want / expected.

                                                  I don't have the screenshot anymore but last time I put a pittance in this when I thought Eur/USD would cruise up and 2 years later I was thousands of points ahead on the one that won. If I had thrown even $1000 at it I would be sitting on a giant pile of cash.

                                                  The best thing about Oanda is that you can go test this with $5 or something. You can trade 1 measly unit there, unlike others. I only trade for fun but damn is it fun.


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                                                  Comment

                                                  • Kenny B!
                                                    Confirmed Abuser
                                                    • Jun 2003
                                                    • 5718

                                                    #26
                                                    Way back when I was trading on margin it was only stocks, I've never touched forex. Not for any particular reason, I felt more comfortable back then with stocks is all.
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                                                    • oscer
                                                      Confirmed User
                                                      • Jan 2001
                                                      • 2834

                                                      #27
                                                      I would keep it .... I think its gonna get worse still
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                                                      • DaddyHalbucks
                                                        A freakin' legend!
                                                        • Feb 2004
                                                        • 18975

                                                        #28
                                                        I thought maybe you bought some ads from Mark at GTS.
                                                        Boner Money

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                                                        • sandman!
                                                          Icq: 14420613
                                                          • Mar 2001
                                                          • 15431

                                                          #29
                                                          some days you win some days you loose.
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                                                          • PornoMonster
                                                            Confirmed User
                                                            • Mar 2003
                                                            • 2257

                                                            #30
                                                            Just hold onto it, it will go back up!
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                                                            • AnalProbe
                                                              pain in the Ass
                                                              • Jan 2004
                                                              • 3727

                                                              #31
                                                              Originally posted by DaddyHalbucks
                                                              I thought maybe you bought some ads from Mark at GTS.
                                                              Not possible.

                                                              All GTS ads are sold for 1 year to Paul Markham's Mystery Client for promoting the Mystery Product.

                                                              Comment

                                                              • DaddyHalbucks
                                                                A freakin' legend!
                                                                • Feb 2004
                                                                • 18975

                                                                #32
                                                                Seriously, precious metals should be used as a hedge, not an investment.
                                                                Boner Money

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                                                                • SleazyDream
                                                                  I'm here for SPORT
                                                                  • Jul 2001
                                                                  • 41470

                                                                  #33
                                                                  Originally posted by Kenny B!

                                                                  As for silver and gold, I know they say it's safe but is it really? You're buying a chunk of metal that there's no shortage of and the price fluctuates with the stock market. At least with precious metals you get something for your money that you can touch. So I guess it's better than a statement saying you own some shares in a company trading at 20x earnings.

                                                                  .
                                                                  the world produces a cube of gold that is about 4.3 meters (about 14 feet) on each side every year.

                                                                  The amount of gold in the world is approximately a cube roughly 25 meters (about 82 feet) on a side

                                                                  there's not much production or all that much in existence for gold when you really think about it... it's an 8 story building, square.
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                                                                  • crockett
                                                                    in a van by the river
                                                                    • May 2003
                                                                    • 76818

                                                                    #34
                                                                    Originally posted by Kenny B!
                                                                    Right, but at some point when a stock is tanking where do you cut your losses? Take the great Nortel and now RIM both were supposed to be solid companies, one went from $125 to nothing and the other $125 to now $19... sell or hold all the way down, either way you can consider it a loss.

                                                                    Two examples of hundreds out there. I'll invest in something I have some control over.

                                                                    People make a killing on the market, I made fantastic money for a while. Then like at the black jack table I gave most of it back.
                                                                    Well problem is you are probably like me.. Willing to gamble. I played with penny stocks for a while just to see if I could make anything out of them. I actually tripled my money when I first started and then gave it all back..

                                                                    Still those gains and losses were never confirmed until I sold. Granted sometimes you just know it's a loss. I mean I still have some Freddie Mac I'm holding.. I flipped it 3 times during the whole fiasco with them and finally got caught in it.

                                                                    One day maybe it will be more than a 40 cent stock again..
                                                                    In November, you can vote for America's next president or its first dictator.

                                                                    Comment

                                                                    • Chosen
                                                                      • Aug 2001
                                                                      • 63151

                                                                      #35
                                                                      Never bought any gold or silver...

                                                                      Comment

                                                                      • Kenny B!
                                                                        Confirmed Abuser
                                                                        • Jun 2003
                                                                        • 5718

                                                                        #36
                                                                        Originally posted by crockett
                                                                        Well problem is you are probably like me.. Willing to gamble. I played with penny stocks for a while just to see if I could make anything out of them. I actually tripled my money when I first started and then gave it all back..

                                                                        Still those gains and losses were never confirmed until I sold. Granted sometimes you just know it's a loss. I mean I still have some Freddie Mac I'm holding.. I flipped it 3 times during the whole fiasco with them and finally got caught in it.

                                                                        One day maybe it will be more than a 40 cent stock again..
                                                                        Yeah I'm a bit of a gambling man, I was flipping freddie and fannie for a while, it would bounce from 60 cents to the dollar mark for a while.

                                                                        I recall Trey/pimpdog was bragging about how was going to make truckloads of cash after buying those at $2, now that was a bad bet!
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                                                                        • Phoenix
                                                                          BACON BACON BACON
                                                                          • Nov 2002
                                                                          • 35475

                                                                          #37
                                                                          Originally posted by Houdini
                                                                          Silver fell below the 200 and 50 mda today. Could get to $27 or below. Bought $25 Dec puts to hedge.
                                                                          i am planning on buying a bunch if it hits 27 as well.
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                                                                          • Matyko
                                                                            PsyHead
                                                                            • Aug 2005
                                                                            • 8681

                                                                            #38
                                                                            forget silver and gold. invest in more rare metals.
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                                                                            • Choker
                                                                              Confirmed User
                                                                              • Apr 2001
                                                                              • 9024

                                                                              #39
                                                                              Originally posted by Matyko
                                                                              forget silver and gold. invest in more rare metals.
                                                                              http://www.lme.com/home.asp
                                                                              if you do a little research, you will know i am not talking stupid shit.
                                                                              Is there a big EASY TO ACCESS market for it though? I see idiots on ebay buying 1 ounce copper bars like crazy. They pay $2 or more per ounce.

                                                                              On the other hand I see people paying $200 premium above gold spot for gold coins with no numismatic value. Try finding gold to buy at coin shops. As fast as they buy them they are sold to someone for way above spot. It's crazy
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                                                                              • JA$ON
                                                                                Confirmed User
                                                                                • Aug 2007
                                                                                • 1329

                                                                                #40
                                                                                Originally posted by biskoppen
                                                                                I completly withdrew from all sorts of investments a few months ago after taking a $50k+ loss on some stupid ass stocks I bought..

                                                                                I'm going to buy $100k worth when I THINK this crisis hits rock bottom and then keep'em like forever or something..

                                                                                But when the fuck this rock bottom is I do not know ;)
                                                                                If you start young, cost average in every month, you'll be fine

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                                                                                • AnalProbe
                                                                                  pain in the Ass
                                                                                  • Jan 2004
                                                                                  • 3727

                                                                                  #41
                                                                                  This metal is a safe investment :

                                                                                  http://en.wikipedia.org/wiki/Rhodium

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                                                                                  • RyuLion
                                                                                    • Mar 2003
                                                                                    • 32369

                                                                                    #42
                                                                                    Originally posted by sandman!
                                                                                    some days you win some days you loose.

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                                                                                    • Choker
                                                                                      Confirmed User
                                                                                      • Apr 2001
                                                                                      • 9024

                                                                                      #43
                                                                                      Originally posted by DaddyHalbucks
                                                                                      Seriously, precious metals should be used as a hedge, not an investment.
                                                                                      Says who? If you had bought gold 2 years ago what would it be worth today? Sounds like a investment to me.
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                                                                                      • uno
                                                                                        RIP Dodger. BEST.CAT.EVER
                                                                                        • Dec 2002
                                                                                        • 18450

                                                                                        #44
                                                                                        Originally posted by biskoppen
                                                                                        I completly withdrew from all sorts of investments a few months ago after taking a $50k+ loss on some stupid ass stocks I bought..

                                                                                        I'm going to buy $100k worth when I THINK this crisis hits rock bottom and then keep'em like forever or something..

                                                                                        But when the fuck this rock bottom is I do not know ;)
                                                                                        Umm, maybe you should buy something with decent dividends. Just a thought.
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                                                                                        • uno
                                                                                          RIP Dodger. BEST.CAT.EVER
                                                                                          • Dec 2002
                                                                                          • 18450

                                                                                          #45
                                                                                          Originally posted by Kenny B!
                                                                                          It's impossible to time the market, I can admit that the market plays me, not the other way around.

                                                                                          I now put my money in real estate, at least I get a physical asset for my cash. I'm done buying shares in some company that can go any which way, or have an accounting issue and there goes my investment yet again.

                                                                                          As for silver and gold, I know they say it's safe but is it really? You're buying a chunk of metal that there's no shortage of and the price fluctuates with the stock market. At least with precious metals you get something for your money that you can touch. So I guess it's better than a statement saying you own some shares in a company trading at 20x earnings.

                                                                                          I've lost enough on the markets to know it's not for me, if other can make huge money with it they are smarter than I am.
                                                                                          lol a 20 pe/m isn't that bad compared to what most have been traded for the past dozen years.
                                                                                          -uno
                                                                                          icq: 111-914
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                                                                                          • uno
                                                                                            RIP Dodger. BEST.CAT.EVER
                                                                                            • Dec 2002
                                                                                            • 18450

                                                                                            #46
                                                                                            Originally posted by JFK
                                                                                            Bid on 1k ounces at the auction the other day, went for 32500cdn + 20% buyers premimum, at that price I said fuck it and dropped out earlier. The people who ended up with it were hoping for an increase Sold apx 7 oz of gold yesterday, today it dropped almost $34.52 cdn or 40.40us
                                                                                            wow CDN is worth that much less than the USD again?
                                                                                            -uno
                                                                                            icq: 111-914
                                                                                            CrazyBabe.com - porn art
                                                                                            MojoHost - For all your hosting needs, present and future. Tell them I sent ya!

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                                                                                            • uno
                                                                                              RIP Dodger. BEST.CAT.EVER
                                                                                              • Dec 2002
                                                                                              • 18450

                                                                                              #47
                                                                                              Originally posted by Choker
                                                                                              Is there a big EASY TO ACCESS market for it though? I see idiots on ebay buying 1 ounce copper bars like crazy. They pay $2 or more per ounce.

                                                                                              On the other hand I see people paying $200 premium above gold spot for gold coins with no numismatic value. Try finding gold to buy at coin shops. As fast as they buy them they are sold to someone for way above spot. It's crazy
                                                                                              Dude, I know that you know that people are idiots.
                                                                                              -uno
                                                                                              icq: 111-914
                                                                                              CrazyBabe.com - porn art
                                                                                              MojoHost - For all your hosting needs, present and future. Tell them I sent ya!

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                                                                                              • stocktrader23
                                                                                                Let's do some business.
                                                                                                • Jan 2003
                                                                                                • 18781

                                                                                                #48
                                                                                                Originally posted by Choker
                                                                                                Is there a big EASY TO ACCESS market for it though? I see idiots on ebay buying 1 ounce copper bars like crazy. They pay $2 or more per ounce.

                                                                                                On the other hand I see people paying $200 premium above gold spot for gold coins with no numismatic value. Try finding gold to buy at coin shops. As fast as they buy them they are sold to someone for way above spot. It's crazy
                                                                                                Kind of like the housing market a few years ago?

                                                                                                (hint hint)


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                                                                                                • GAMEFINEST
                                                                                                  Make STACK$
                                                                                                  • Nov 2006
                                                                                                  • 14478

                                                                                                  #49
                                                                                                  Thats loot i left stockmarket ages ago
                                                                                                  Compound interest.

                                                                                                  Comment

                                                                                                  • Choker
                                                                                                    Confirmed User
                                                                                                    • Apr 2001
                                                                                                    • 9024

                                                                                                    #50
                                                                                                    Originally posted by stocktrader23
                                                                                                    Kind of like the housing market a few years ago?

                                                                                                    (hint hint)
                                                                                                    Nah, I dont think enough idiots have bought enough of these over priced 1 oz copper bars to make a dent in the market.
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