Wednesday, December 8, 2010

Bought PAL at $6.46 -- Sold SIL at $26.42

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I bought North American Palladium (PAL) in the pre-market on Tuesday at $6.46.  Not such hot timing as it appears we began a sweeping profit taking correction in the precious metals space several hours after my purchase.  As my readers know, I try very hard to not sell a miner at a loss because I think there is rarely a reason to do so.  That is to say that the secular bull market for precious metals is alive and well - and will, with 99% certainty, bring price back to give me a profit if I am patient.  The challenge at this point will be to see just how low I can buy another slug of PAL!
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Click on the charts to ENLARGE
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Once the hand writing appeared on the wall, I decided to do a bit of profit taking myself and raise some cash.  I sold my shares of Global X Silver Miners (SIL) at $26.42.  
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My TSI trading record has not been updated (just yet).

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