This is a one hour chart of Hecla Mining Co (HL) which I sold today at $8.64. I was pleased that it rallied up from a low of $7.85 reached 3 days ago and that I was able to just get my account back to all cash. Also, a couple days ago I bought 120 call options on HL when it was around $8.05 and I sold them all yesterday for a nice gain. HL was good to me but I am happy to move on, just the same.
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Click on the chart to ENLARGE
This is a 4 hour chart of Direxion Daily Gold Miners Bear 2X shares (DUST). I share this chart to suggest there is good reason to be hopeful the miners will get the show on the road soon. As DUST is an inverse ETF of the miners, when this chart falls apart it will also coincide with the miners breaking out. The chart shows a number of favorable details and we will keep an eye on how this progresses. For now, anyway, the likes of GDX, GDXJ and HUI have not broken out.
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My TSI Trading record has been updated.
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Do you agree that junior silver stocks that have hedged their production would do well when silver price is down because they lock in their profits?
ReplyDeleteHow do I find out which junior have hedged their production? Thanks
JU - well, I guess your thought makes some sense. But if you look at a chart of silver, there were only about 10 days where price was higher than it is at present. They had a very small window of time to pick up much of an advantage.
ReplyDeleteI do not know how to find out which junior silver miners have hedged their production. Hopefully, someone with the answer will write it for us!
John:
ReplyDeleteThank you so much for reply. I really appreciate the fact that you share your trades and your knowledge with other. I've learned a great deal from you.
Keep up the good work!
I'm sitting on a small profit of EXK. Can you look at the chart and share what you see with me? Thanks
Hey JU: well, EXK has gotten stuck at it's 50 dma today and yesterday and the future price movement is a flip of the coin, IMO.
ReplyDeleteI'll tell you this though. No one ever went broke taking a small profit. I take small profits all the time when I don't like my odds going forward.
I leave a lot of money on the table sometimes - as I sell too soon. But the money I make just goes back into my account for the next trade, so really it is not as bad as it may sound to some. My point of view, right or wrong, is that I limit the risk I am taking by not overstaying my welcome. If you can make small profits 8 or 9 times out of 10, you will make money. At least, that is what I try to do.
Thank you, I like "No one ever went broke taking a small profit" the best. How true!
ReplyDeleteVery True John,
ReplyDeleteAfter what happened last week, i think one has to use stop losses and protect profits..
John: MANY thanks for your TOS/IB comments in your last thread. I think I may be following you to both.
ReplyDeleteCould I ask how you get TOS for free? Is it just by opening a token brokerage account at Ameritrade and putting $5.00 in it?
Thanks!
jhn - i think it is simpler than that, as i recall. for starters, i have never funded an account, even with $5. you have to jump through enough hoops that they agree with the user name and password you select, then I believe you can just circle around, log in using those two items, and download a fully working copy of the software. Please let me know if you run into any snags.
ReplyDeletejohn,
ReplyDeleteI am new to TSI. Does OCLR have a buy signal according to TSI & MFI?
OCLR - close, but not yet.
ReplyDelete