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Topic: Careful trading (Read 86 times) previous topic - next topic

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  • Nikko 
  • [*][*][*][*][*]
Careful trading
I am now completely flat...zero miners, but still long my original gold position at 900 USD.
I think there is a good chance that the July 10 low on miners gets broken...and if that does not reverse we could be heading to the Dec 15 low of 2015...this is where there would be a wipeout and mass liquidation...thus a massive buy pop. At this point nobody should be leveraged as danger is real.
I simply do not think its worth the risk to stay long at this point and have my loss for 2017 which is 12% on my overall portfolio or about 22% on my miners...the loss is real but I did have a 300% gain on miners in 2016 so been a good 2 years.
I am waiting this out patiently at the moment. GL and be careful folks.



  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Careful trading
Reply #1
I am now completely flat...zero miners, but still long my original gold position at 900 USD.
I think there is a good chance that the July 10 low on miners gets broken...and if that does not reverse we could be heading to the Dec 15 low of 2015...this is where there would be a wipeout and mass liquidation...thus a massive buy pop. At this point nobody should be leveraged as danger is real.
I simply do not think its worth the risk to stay long at this point and have my loss for 2017 which is 12% on my overall portfolio or about 22% on my miners...the loss is real but I did have a 300% gain on miners in 2016 so been a good 2 years.
I am waiting this out patiently at the moment. GL and be careful folks.
In 2 weeks I am out. Tax time is coming.

On another note I noticed a article I can't find now about the best days for highs and lows in silver. NSRPF is a good sell on Tuesdays, and BTG I believe was on Fridays. Seems a bit random but so does Snoops idea of moon phases. I am now paying attention to those moon phases. Don't know why but....

  • Nikko 
  • [*][*][*][*][*]
Re: Careful trading
Reply #2
this year has been bad for almost every miner and good for gold...for sure tax loss selling is coming...I may be completely wrong and we reverse, but risk/reward is simply not worth it for me. If those lows of July are broken which is not far away, and there is no reversal I think we are heading back down to those 2015 levels and even lower....I wouldnthen step in to my tgt prices which are 50% below these levels.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Careful trading
Reply #3
this year has been bad for almost every miner and good for gold...for sure tax loss selling is coming...I may be completely wrong and we reverse, but risk/reward is simply not worth it for me. If those lows of July are broken which is not far away, and there is no reversal I think we are heading back down to those 2015 levels and even lower....I wouldnthen step in to my tgt prices which are 50% below these levels.
Well any ideas what you will invest in? Banks?

  • Nikko 
  • [*][*][*][*][*]
Re: Careful trading
Reply #4
Ken...I am holding cash only presently.
The mistake investors make is to always be in the market. I made that mistake this year and payed dearly.
I plan on waiting it out making 0% and getting in on absolute pain. I do believe there is a good chance that the Dec/Jan lows of 2016 will be broken..if they are I will get in way below these prices when all bulls have given up...If I am wrong...so be it.
I work full-time, have decent income from a property so don't need to make money in markets all the time...BUT I need to preserve cash for the big opps.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Careful trading
Reply #5
I don't work but use this 401k to live on, so I am careful.

  • Nikko 
  • [*][*][*][*][*]
Re: Careful trading
Reply #6
I actually took some short positions today.
GDX at 22.5
IAG at 5.98
AG at 6.66
I will play these with 10% stops...but I have a serious view that we are going a lot lower in miners. I should have seen this earlier but I have a strong opinion on it now. Remember folks...no margin PLS!

  • Nikko 
  • [*][*][*][*][*]
Re: Careful trading
Reply #7
GDX at 22.55 sorry about that