Despite what market headlines would have me believe, I am still a strong believer in precious metals here. De-dollaring by foreign countries, or at least hedging their dollars invested here is real and ongoing. Goods inflation is starting to re-enter the chat, and the rest of the market is feeling wobbly, to say the least. While I'm no buy and holder of this or any stock, those tailwinds are good ones to have. The stock is still solidly in an uptrend, and there is nearby support as well. Also, it has pulled back 25% already and rallied 5% intraday off its low to close above near term support. I like all of that.
The correction in gold, frankly, is a normal and healthy one in my opinion. Does it continue? Maybe. But I do think it's a bit of an overreaction here. Other precious metals are simply along for that ride. This stock has made me too much money too many times to ignore this opportunity at this level. In fact, I got in yesterday (and again at the close today at 5.13). I think there's a very real chance of a double digit percentage rebound from here.
If you doubt this, I get it. But I would look at those past ideas I've posted and how those turned out before you dig your heels in too hard against this one. But, markets only function when there are opposite viewpoints about the future price of a stock, so have at it if you're a bear here. If this takes a while to resolve, I am not at all opposed to tactically adding more if the opportunity is a good one, or taking profits for the same reason.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
The correction in gold, frankly, is a normal and healthy one in my opinion. Does it continue? Maybe. But I do think it's a bit of an overreaction here. Other precious metals are simply along for that ride. This stock has made me too much money too many times to ignore this opportunity at this level. In fact, I got in yesterday (and again at the close today at 5.13). I think there's a very real chance of a double digit percentage rebound from here.
If you doubt this, I get it. But I would look at those past ideas I've posted and how those turned out before you dig your heels in too hard against this one. But, markets only function when there are opposite viewpoints about the future price of a stock, so have at it if you're a bear here. If this takes a while to resolve, I am not at all opposed to tactically adding more if the opportunity is a good one, or taking profits for the same reason.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Note
Added 1 lot at the close at 4.66.Lots held:
Lot 1 - 5.13
Lot 2 - 4.66
Note
Added again at the close today at 4.63.Lots held:
Lot 1 - 5.13
Lot 2 - 4.66
Lot 3 - 4.63
Note
Sold lots 2 & 3 at the close for 4.79. I wish I'd have closed them before the Fed announcement (I almost did) but I thought I'd keep them for insurance if the market didn't like the announcement that ASM would hold up better than it did. Oh well, still a couple of nice trades and there could be continuation for that original lot if the market is in sell the news mode about the Fed.Lot 2: 4.66 --> 4.79 = +2.79% in 2 trading days
Lot 3: 4.63 --> 4.79 = +3.46% in 1 trading day
At this point, I am almost to break even overall with the original lot down 6.63% and my exposure is back to that single lot. I love when that happens.
Lots held:
Lot 1 - 5.13
Note
Added at 4.20 after hours today.Lots held:
Lot 1 - 5.13
Lot 4 - 4.20
Note
Sold lot 4 at the close today for 4.29, a +2.14% gain in 3 trading days. Back to just the original lot, which is down 16.37%, but I have +8.39% in my pocket, so I'm only down about half of what the original lot is and still only have my original exposure. To get back to break even, I now only need the original lot to get back to 4.73 rather than 5.13. Everything from 4.73 to 5.13 would be profit at this point.Lots held:
Lot 1 - 5.13
Note
Added 1 lot at the close for 4.27. Lots held:
Lot 1 - 5.13
Lot 5 - 4.27
Note
Sold lot 5 at the close for 4.36 -- a 1 day gain of +2.11%. The stock may be faltering, but it keeps paying incrementally. The original lot is down 15%, but the 4 lots bought and sold since: +10.5% combined. Overall, the position is down 4.5%. Given that the stock will almost inevitably get back to that original lot price eventually, I just want to make a little here and there and keep rotating that money to whatever is on sale each time I sell here. Lots currently held:
Lot 1 - 5.13
Trade closed: target reached
I tried, but I just couldn't wait until the end of the session today. I sold out at 5.64 for a gain of +9.94% in 25 trading days. So what looked like a disaster early on, ended up being an excellent trade overall.Lot 1: 5.13 --> 5.64 = +9.94% in 25 trading days
Lot 2: 4.66 --> 4.79 = +2.79% in 2 trading days
Lot 3: 4.63 --> 4.79 = +3.46% in 1 trading day
Lot 4: 4.20 --> 4.29 = +2.14% in 3 trading days
Lot 5: 4.27 --> 4.36 = +2.11% in 1 trading day
Note
Trade results for my recordsWins 5 Losses 0
Average gain per lot = +4.09%
Avg hold length per lot = 6.4 trading days
Avg gain per lot per day held = +0.639%
Annualized RoR = 0.639% x 252 = +161%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.