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Today I sold Santa Fe Gold Corp (SFEG) at $1.06 for a nice 6% gain. I bought this position two weeks ago on November 8th, and from the moment of purchase until this afternoon, this stock position was under water the entire time.
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I used my best TSI skills to time the purchase of SFEG, but instead of rewarding me the trade appeared to completely backfire.
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Now here is the lesson I have learned well and perhaps a few readers would benefit from hearing it: this is a secular bull market for precious metals and their mining stocks. Because it is a secular bull market, price over time will continue to rise. That means when I buy a mining stock I have the expectation that if I am patient enough it will return a profit to me 98% of the time. And my record, indeed, shows that my patience, though not that of a saint, is pretty darned good. I have few losing trades because I follow this philosophy. You can, too!
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Click on the chart to ENLARGE
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My TSI Trading record has been updated.
Nov. 23 Weekend report
1 day ago
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