I am not sure what to make of the recent fundamental developments regarding Crosshair Exploration (CXZ) so I returned my shares to someone else's care for 24 cents and pocketed a small profit in the process.
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I love Cadero Resources (CDY) and the fact that it trades well below book value. But the TSI was at nose bleed high levels, suggesting a fall was immanent, so I sold my shares to someone else for $1.40 and walked away. Within minutes CDY was trading at $1.31 and I knew I got lucky - again. Thank you True Strength Index (TSI).
Here is an interesting example of thinking you know what you are doing and having the market remind you that anything is possible (and likely). This is Continental Minerals (KMKCF) which I bought at $2.54. It had a bullish True Strength Index (TSI) and Money Flow Index (MFI) indicator trend line break, a positive divergence between the flat price action and a rising TSI, and the TSI was rising strongly above the ZERO crossover. So I bought. Then, oh oh.
My other purchase Friday November 6th was Proshares Ultra Silver (AGQ) at $123.53. As we can see from the chart, AGQ was a great buy a couple of days back. Regardless, I wanted to just have a substantial silver position and let it ride - so now I have one!
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My TSI Trading record has been updated.
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Looks like I got out of AGQ too quickly again. At what price do you think I should get back in again? Also, should I just hold and wait until Gold is at $1600? Thanks.
ReplyDeleteYou know Fung, when this stuff starts going up like a parabolic rocket it is going to be useless trying to trade it. At least that is the conclusion I am coming to. Gradually I am buying more AGQ, SIL, GDXJ and core stuff like that - with the idea of just letting them sit and do their thing.
ReplyDeleteWho knows, we could have a little PM breather Monday and Tuesday - but then again, maybe not. I decided to just hold my nose and buy AGQ last Friday and I figure on taking my lumps if my timing was 'too early'. At this point, I think being 'too early' is a lot smarter than being 'too late', if you know what I mean.