2011 in review

Week 49.1 2011 in review

Prior to May 2011 I believe that silver price will go up non-stop then the price slashed down from USD48/oz to USD32/oz. For the first time I got caught up with it. Soon it recovers back to USD40/- then 2nd heart attack price dropped to USD26/oz. Then just before the year 2011 ended, the 3^rd heart attack dropped to USD26/oz again. Wow! so tough in this business.

1^st silver heart attack I was heavily loaded but managed to recover a bit when the price back to USD40 by selling below cost. 2^nd silver heart attack, again I was caught but I managed to roll over quickly to cut my losses. Just in time for me to recover from the 2^nd silver heart attack. It is just enough to profit a bit even though the sales volume is high. Prior to the 3^rd heart attack, I settled most of my debt and not as heavily loaded as previously two attacked. At the same time, new player came in Oct/Nov 2011 with slashing prices here and there since Oct 2011. In the 3^rd heart attack, I’m not as heavily loaded as previously, thus I was not affected that much. Now it’s extremely difficult to do business in silver already. It’s difficult to compete with their pricing on certain products for various reasons. 

As the year 2011 ending, I managed to get some good sales during Christmas 2011. It’s small compared to what I used to get but now it’s considered reasonable lah. Well, it’s a consolation prize for me-lah.

At the same, I realized all my 2011 predictions went wrong. So, it’s not wise to do long term prediction. Week or bi-weekly prediction is much better and accurate. As things slowed down, I got to move on to other things nevertheless I will certainly be back when the sales recovered. However, the profitability will be much much less than previously.