Monday, November 8, 2010

Sold SIL, AGQ, PZG - Bought SDRG, TLR and SFEG

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Wow - what a crazy day again today.  And to think our situation is going to just get better is mind blowing.
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Anyway, I made three sales today and three purchases.  This first chart is my sale of the Global X Silver Miner ETF (SIL) at $22.87.   I was looking for a pullback, based on the TSI, but I was hours early.  It is presently occurring in the after hours market this evening.  
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It really bothers me that I cannot have the opportunity to time these sales and purchases to my satisfaction - due to my full time job - but as long as I keep taking profits and not losses I should do OK in the end.
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This sale was of the red hot Proshares Ultra Silver ETF (AGQ) for $129.85.  This too is finally pulling back in the after hours so I most definitely did not trade out at the top.








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Finally, I sold Paramount Gold Mining Corp (PZG) for $1.86.  I purchased it just last Thursday and think I timed the sale pretty well - earning a modest 6.5% gain.












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Late in the afternoon I figured I had taken too much money off the table and needed to do some buying so I acquired shares of   Silver Dragon Resources (SDRG) at 22 cents as it looked to have a strong technical setup.








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I also re-bought Timberline Resources Corp (TLR) at $1.18.  Excellent set up.
















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And I re-bought shares of Santa Fe Gold Corp (SFEG) at $1.00.  The setup is not quite there, but pretty close.
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This is going to be an exciting month.  Fasten your seat belts... you will need it!




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My TSI Trading record has been updated.

13 comments:

  1. Hi John,

    Are you expecting to see a (sizable) correction in Silver now? I am still holding on to my AGQ and not sure if I should realize some gains now. The problem is that mine is not a margin account. So if I sell tomorrow, I cannot trade again for another 3 days (thus missing opportunities in the short term).

    Thanks,
    Fung

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  2. Hi Fung -- Stay right where you are and hold AGQ. No, I absolutely do not expect any correction that is worth sitting out three days.

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  3. John,

    You trade too much. You said you were buying and holding your silver stocks, and you held them for precisely one day. My advice: buy and hold. This move, as you rightly point out, is just getting started. You now own one crappy silver miner, instead of two good securities (AGQ, SIL).

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  4. John, I LOVE your charts and analysis. I do think PZG is about to explode upside though , after a LONG consolidation. Get back in tomorrow buddy, the volume today ( which will be reflected in the wkly) is powerful.

    best wishes, Robert

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  5. check it out - my article about Gold's 7 Parabolic C Waves is now featured on the FRONT PAGE of jsmineset.com

    now that is a first for me!

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  6. Looks like the two good securities I sold yesterday closed lower today than what I sold them for. One was lower by 6%. Ouch.

    And the crappy silver miner I bought to replace my sales closed today with a 9% gain.

    I don't think I trade too much.

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  7. Luckily, I got out of my AGQ at near the top today @142. Thanks for sharing us with your views earlier. Else, I would still have held on to my AGQ!

    When do you reckon should be the next entry point?

    Thanks.

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  8. Yeah John, let your trading records speak for themselves.

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  9. John,

    Although I personally cannot trade as frequently as you do, I appreciate that you can do it and show such great results. Maybe folks who think you trade too much would post their trades and results so we could compare. I have watched you trade "too much" day after day for the past 5 months in total awe and appreciation.

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  10. Congrats Fung. You are getting very good at this!! I reckon the next entry point will be around the second week in December.

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  11. Hi John,
    When you say "the next entry point will be around the second week in ", you ´re talking about AGQ ? You mean that we wiil see a correction till there ?

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  12. Carlos - at this moment I am feeling defensive, going to take down some long positions and preserve some of my gains. Again, I do not have a crystal ball. At least not one that works consistently LOL but I do react to what I see and imagine going forward. Yes, I think there is a good possibility that a PM correction could ultimately take us to that time frame. I have worked hard to make gains and as that is a possibility, it does not hurt me to be careful - buy back when things are less murky in my mind.

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