Tuesday, September 7, 2010

SOLD CLHRF $.38, CDY $1.25, PZG $141 BOUGHT PLG $1.83, OSKFF $12.75

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I made three sales today and two purchases.  I am finding it extremely difficult to trade for the correct entry and exit price when I am only able to see a computer for 30-45 minutes a day.  I don't like this feeling that my hands are tied behind my back.
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This first sale was of Coral Gold Resources (CLHRF).  In this seemingly run away environment, the upper Bollinger Band is penetrated by most nearly every mining stock, yet this usual quasi sell signal is not stopping the bull from crashing right through this or any obstacle in its way.
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Click on the charts to ENLARGE
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My second sale today was of Cardero Resource Corp (CDY).  It appears I got something close to the high for the day - dumb luck, let me tell you.  I just have to guess at these limit orders before I go to work and then take whatever happens and try to keep going.  I have one remaining position in CDY and I hope to sell it when Gold reaches $1300 in a few to several days.
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My third sale was Paramount Gold Mining Corp (PZG).  Another miner up quickly into the upper Bollinger Band.  It would not surprise me if this stock just keeps going.  Indeed, it closed up higher than my sales price but for holding 2 days, I can't complain with a 7% return.  


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Two purchases today, not very well timed, I should add.  First, this is Platinum Group Metal (PLG).  As platinum has not 'taken off' like gold and silver, these platinum stocks are still in a workable technical situation for me.  PLG does have a MFI breakout on this daily chart and with a single day of good price movement, will also have a breakout on the TSI.  The stock has recently been $2.10 and $2.20 and I have little doubt that it could achieve something close to that in the next many days.
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Finally, my other purchase was of Osisko Mining Corp (OSKFF).  This stock has nearly doubled in the last 8 months and rather than be concerned with the TSI stuff, I like that it had tested the previous peak of $12.00, had pulled back and was probably a good candidate to buy and hold if it does not start to move right away.  It certainly is not overbought as most everything else is, at this time.
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My TSI trading record has been updated.

3 comments:

  1. Dear John:

    please refer to the link

    http://www.safehaven.com/article/18099/gold-analysis-and-strategy-4th-of-september-2010

    There is a Gold Sentiment Put/Call Ratio chart, I wonder if yu have any idea where I can locate it.

    Thanks in advance.

    Max

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  2. Hi Max,

    http://schaeffersresearch.com/streetools/indicators/equity_volpcratio.aspx

    Just input GLD for the ticker symbol. The chart in the article comes from here. The author cut and paste it a bit, so it looks slightly different from the original, but the data is identical.

    ReplyDelete
  3. well..John, I can't buy GLD here but only gold bullions, that's why I asked if you know where I can locate that chart.

    ReplyDelete