Tuesday, June 22, 2010

SWC (Stillwater Mining) - small position

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I took a small position in SWC a half hour ago.  $13.92
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I didn't wait long enough for the dip down near $13.70ish, but that's how it goes sometimes.
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The US Dollar seems to have topped about 90 minutes ago, taking the pressure off
miners.  I am thinking this may continue for a couple days so a small position is OK
with me.  
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Well, today was a first for me.  
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I carelessly bought the SWC high of the day ($13.92) and with a little more patience I also bought the low of the day ($13.30 at the close).  
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I still think the odds are good that today the dollar made a short term top (UUP $25.08 early in the session then retested with less momentum at the end of the session) and if so, miners should do much better tomorrow.  Time will tell :)
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Click on the chart to ENLARGE

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