I had a single trade last Friday with this purchase of Kobex Minerals Inc. (KXM) at $0.985. Technically it has a ZERO crossover and a positive divergence in place. What additionally intrigued me was to learn that the stock trades at 1.1X Book Value and has 90 cents per share in CASH.
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I am planning on being an aggressive buyer of miners this week provided the US Dollar shows signs of continuing to weaken. If the Dollar does weaken I think it likely the bottom in gold was put in last Friday and we should be done with the gold correction.
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I have limit orders placed for quite a few stocks, which include: RMLFF, GSTP, ELRFF, CXZ, BCEKF, CLHRF, PLG, CDY, SFMI and RCTFF.
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In most cases these stocks are currently exhibiting a TSI trend line break or a bullish zero crossover of the True Strength Index (TSI) indicator.
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Click on the chart to ENLARGE
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My TSI trading record has been updated.
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Would you feel the same about being done with a silver correction this week if the dollar doesn't recover? Great site btw!
ReplyDeleteThanks,
Bob
Bob -- ABSOLUTELY, if the gold correction is over, the silver correction is over as well. Let's hope so and then make some money!
ReplyDeleteJohn,
ReplyDeleteI'm currently underwater with 20 SLV 23 calls for Jan11. Do I need more patience here?
Thank you,
Bob
Bob, even if the dollar does finally get its act together and perform a feeble counter trend rally, I don't think it will be long (not many days) before the dollar rolls over and gold and silver take off. You were smart to buy Jan calls as this gives you plenty of time to sit back and enjoy the show. Seriously.
ReplyDeleteThank you John. I am still learning this game ... alot of study and I look foward to studying your TSI methods.. but also conviction and guts I believe :).
ReplyDeleteTuesday and wednesday is expiration days for this month's future contracts on the Comex. Do you think the prices will be knocked down for that occation this time also?
ReplyDeleteTrond: I have no clue. Good question, I guess. However, I will be fully loaded long before Wednesday and going to sit right through it. :-)
ReplyDelete