Buying Silver Puts Tomorrow

After last Friday's big down move in precious metals, I decided to buy puts in the silver ETF.  Buying puts means that I'll be betting that silver keeps moving down. I would advise using Google and doing a search on put options if you don't understand what I'm talking about. Books have been written on this topic.
I just feel that the move is not over. Since we are apparently going into a depression people aren't buying silver and gold which act as an inflation hedge. Playing the options can be difficult but they are highly leveraged and I might make a lot of money. I just hope that I don't stay in them too long.
I'll keep you all posted on how I'm doing if you come back to my blog.
I went to the Kitco website today. It's a site that specializes in metals (prices and discussions). I wound up watching a lot of negative articles about why gold and silver should go up. Apparently the world's economy is collapsing and now is the time to prepare for it by buying metals and food. Of course, they have been saying that for the last thirty or more years.
 They made some good points on buying silver that I wasn't aware of. Something that struck me was the point that when gold is dug up it is stored as an asset, whereas silver is used as an industrial metal and then thrown away. That means that silver is being depleted at a faster rate than gold.
When the sell-off is over I'm going to buy more silver. I hope I'll be able to afford it. I would also like to buy Jim's acreage. It's close to the Mississippi river, and I could raise chickens and grow a garden as well as fish for food. It really would be an ideal survivalist homestead. Things may turn around, yet. Of course, I've been through this many times, before. I get my hopes built up, then my investments turn bad.
I just checked the Asian market for gold and silver. They opened down, but now they seem to be coming back. I'm glad. That means I'll be able to get into my position at a better price than what it could have been. I'll be buying at 8:30 tomorrow morning. I'm a bit anxious. At least I won't have thousands invested and I have a good income from Social Security and my part-time job. It's money I could afford to lose.
I've been using the Nook a lot more, lately. I still prefer to use a laptop to blog with. I might have to get the wireless keyboard for the Nook. I don't see any great advantage to the tablet computers. They are hard to get used to and I need a real keyboard, anyway.
If anything great happens tomorrow I'll get back to you.
Later