Monday, October 11, 2010

SOLD AGQ at $95.01 and SILA at $0.84

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I have been in Chicago all weekend and spent today traveling back to TX so it was difficult to watch the markets today, but I felt a need to get defensive with a couple of my silver related positions, take profits and see where that market wants to go next.
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I am long one futures contract on the US Dollar and while I think the stock market will go into a brief correction any time now, I am not as sure what the precious metals will do.  It seems they should have a correction of some sort but as we are in a run away mode, anything is possible.
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This first chart is Proshares UltraSilver (AGQ) which I bought last Thursday at $90.90 and sold today for $95.01 and a 4.5% gain.
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Click on the charts to ENLARGE
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This second daily chart is of Silver America Inc (SILA).  This sale at $0.84 was for a 5% gain and clears out my remaining holding in this stock.
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My TSI Trading record has been updated.  
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Today, incidentally, is the four month anniversary of my TSI Trader website.  My cumulative percent gain to this date stands at +371.9%, and of 78 completed trades, 8 have not been profitable for a 90% success rate.

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