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  • Gold is off to the Races!

    Posted on September 3rd, 2009 No comments

    What a great couple of days!!¬†If you listend to my advice before this breakout, you should be fairly happy today. Gold broke the upper trendline on the weekly and daily chart and exploded. Before we break $1000 I’m looking for a pull back to the $985 range, and possibly as low as $975 but that is unlikely. The minute we see $985 I will be loading up on various gold miners and gold ETF’s. The following is what I have my eyes on:

    1. Yamana Gold – Ticker AUY

    2. New Gold – Ticker NGD

    3. Gold ETF’s = HGU.TO & GDX & GLD

    You can also expect Silver to follow a similar pattern to Gold, so you can also load up on the silver ETF SLV. Good luck trading everyone!

  • I’m Buying on Pullbacks

    Posted on February 24th, 2009 No comments

    Yesterday we saw some more modest pull back in the metals, creating a nice setup for buying. I’ve taken advantage of the situation and I’ll hold out the next few days to see if things continue to break upwards. Anything below $968 in gold will test this bull trend. Until then, I’m still loading up.

    Silver is looking still looking far more bullish then gold, any pullback below $13.90 can reverse that trend. Until that point I will be loading up on various silver miners and the silver etf, SLV.

    The Plays

    • Yamanna (AUY) long position, still holding and buying on pullbacks.
    • HMS Holdings (HMSY), exited my short position after a $2.00 drop yesterday.
    • GLD and SLV, buying on all pullbacks with a stop loss set around $940 and $13.30 respectively.
    • Watching General Electric (GE) for another major pullback, if so, I will enter long.

    Happy trading everyone!

  • An Interesting Week & Day

    Posted on February 20th, 2009 No comments

    As good as today should have been (2 predictions met), I didn’t really cash in. I was up slightly on the day, but nothing worth celebrating over. I also entered into positions I’m not really comfortable with after looking over the charts. Let me recap the day. First off, 2 of my 2009 predictions have been met…

    • Dow collapsed under 7500 in Q1
    • Gold broke the $1000 an ounce mark in Q1

    At the time of those predictions, many people doubted me. Clearly, both were nailed with precision. That aside, I’m still a little concerned with how things turned out for me today…

    • Shorted HMSY
    • Debated on going long on GE, but ultimately opted out of doing so. Things looked icky on the charts.
    • Bought shares of AUY (will explain later)
    • Built my position on GDX
    • Boughs shares of NGD

    It was a full day to say the least. Let me review my AUY position… ¬†Ultimately, I’m bullish on this stock but my entrance on AUY was horrible. I sat analyzing the charts for 2 hours after I entered and decided I’m going to hold it over the weekend. Typically, I wanted to wait for a clean pullback in the miners like we witnessed yesterday. Two straight days of pullback would of cleaned up my charts and had me off to the races. So why did I buy AUY? Well gold made a dramatic break upwards and the gains on the miners were modest. I don’t love the trade, but I’m going to live with it.

    On another note, we saw another bone crushing day on the stock indexes. The DOW reached new lows, but the midday bounce back has me thinking we are going to see some more volatility going forward. I didn’t touch GE for this exact reason, next week could see sub 7000, and if dramatic enough, that’s when I’ll feel more comfortable taking long positions on consumer staples. Until then, I feel safe in the miners, specifically Silver and Gold stocks.

    I hope everyone reaped the gains that I should have today :) Making only 1% on a day like today feels like crap!