Tuesday, January 18, 2011

Hard at Work on a New Strategy

For a few days now I have been somewhat obsessed with developing a new strategy.  I've made a good amount of progress though at this point I wish there were 36 hours in a day.  Ever feel that way?
Anyway, tomorrow I will take my first leap of faith and use some money to begin test driving my strategy.
I have narrowed a list of 10 prospects for tomorrow's trade down to just two.  They are Denison Mines Corp (DNN) and Harmony Gold Mining Co (HMY).  I will simply place a market order to buy the opening price of each, set a limit order to sell 5% higher than my filled order, and possibly set a stop below the low price each achieved today. I will go into greater detail about my strategy when time permits.  
The other 8 ticker symbols I did not chose were, for the most part, small capitalization plays.  If you are interested in some of these ideas, here they are in alphabetical order:
As luck would have it, these 8 will probably do better than my purchase.  But as long as my trades succeed, I will be very pleased.

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