Tuesday, March 22, 2011

Sold SFEG - $1.04

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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%

5 comments:

  1. 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.)

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  2. P.S. No wonder you look so happy in your picture!

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  3. Hey John,

    What type of options are you buying on SLW?

    What month expiration and strike do you recommend?

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  4. 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%.

    In 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!

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  5. john,
    you'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.

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