I had a sell limit order in place for my shares of Coeur D'alene Mines Corp (CDE) at $31.75 which was taken out in this morning's pre-market activity.
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Click on the chart to ENLARGE
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Overnight the US Dollar made a fresh new low (76.76), though at the moment is rebounding somewhat. Gold inched higher reaching 1422.1, a new recent high and a clear break above the downsloping trend line extending from the all time high of 1432.5. Silver is making all time highs at 34.475. Platinum, palladium and copper have each advanced strongly overnight as well. The weakness in the US Dollar is becomming more and more inevitable as it has fallen below its previous daily cycle low and the rocket launch for the precious metal complex is just getting started.
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My TSI Trading record has been updated.
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Hey John, Just wondering why you would sell cde this morning if you feel the pm market is set to explode higher? thanks.
ReplyDeleteThat's a fair question and there is not a cookie cutter answer I will try to give you. I was about 20% on margin and saw this as a way to take a little leverage off the table. Also, I have many many times in the past had a stock blow up 15-20% one day, only to have the air let out of the tires over the following days and my impressive gain turn into nothing quickly.
ReplyDeleteI was, in part, adjusting my leverage comfort level and in part, doing what has got me to where I am today - which is to be very happy with 80-90% accuracy and take gains when they are there to take. I tend to think of this as risk management. But understandably, others will think it crazy. lol And that's OK with me.
Hi: John
ReplyDeleteYou're right on again,
Gold , Silver, Palladium all went up higher,.....
Thanks
Im will take this ride,,,,,,