This is the daily chart of Santa Fe Gold Corp (SFEG) which I sold today at $1.04 for a respectable 9.5% gain. I had to hold the stock for 5 weeks, but sometimes that happens.
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Click on the chart to ENLARGE
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I've reviewed the 18 stocks that I have suggested on the Tomorrow's Trades (Today!) page and I confidently believe each and every one will hit their target sell price and be a profitable trade - except for PLG. The reason this one concerns me is that it is platinum related and I am just not so sure that platinum, and palladium for that matter, are going to get in gear like I had hoped.
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I have been buying some positions on the silver side of the street as I am slowly selling off gold related positions. These trades don't show up on my TSI Trading record because they are all call options and I don't know how to account for those due to their leverage. In any event, I own call options on CDE, SIL and SLW, fwiw.
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My TSI Trading record has been updated. The cummulative total of my trades since beginning this blog 9 months ago is now +640.2%
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Holy crap, John!!!!! +640.2% in 9 months is pretty good. ;^) CONGRATULATIONS!!!! And shouldn't you be buying everyone who visits here a drink? (Sort of like a buying rounds after bagging a hole in 1.)
ReplyDeleteP.S. No wonder you look so happy in your picture!
ReplyDeleteHey John,
ReplyDeleteWhat type of options are you buying on SLW?
What month expiration and strike do you recommend?
jh -- 640.2% in 9 months is pretty good but remember, it is the cumulative total of my closed trades, not the actual increase in the cash value of my account (unfortunately). I never use my entire account value on a single trade but if I had I suppose I could have actually earned something closer to 640.2%.
ReplyDeleteIn any event, this method of record keeping is just a little game I play with/against myself - and does indeed suggest that my win/loss record is quite high.
If you study my trading record you will see that I still hold a number of positions that are under water. I am holding most in hopes the bull will bring price back to me for a small profit or at least breakeven. If I were to liquidate these positions today obviously that would subtract a considerable number off the 640.2%.
So, as of today the true cash value gain in my account for the 9 months is only 80%. And yes, I am happy about that!
Spidey - I think the party will be over sooner than later so I bought the June expiration. Which strike is entirely up to how much risk you want to take I guess. I bought the 35 strike. If you think SLW is going to the moon and you are willing to risk losing all your money I guess you could buy a strike of 60+ (not sure they exist). If SLW flies and you sell before it crashes you would make a great deal of money. The lower the strike price, the less risk you take. The higher the strike price, the more risk you take. With options I would advise taking less risk - they are risky enough as it is!
john,
ReplyDeleteyou're clever. I'll be reading back thru all of your 2010 posts. your honesty regarding your trading acct is refreshing.
i'll be following.