… No?
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What’s the matter? You don’t like gut-scissoring roller-coaster rides with your daily portfolio analysis?
C’mon, Mr. Pushups, suck it up. Take one for the team, bear down. Raise greasy lettuce for samitches.
Did you sell anything today? I did, but not a whole lot. My biggest move today was gettting rid of about half of my AGQ earlier today at prices north of $261. It’s a deleveraging play, much like getting rid of my call options the other day. I also sold 40% of my PAAS at prices well north of $41.60
I didn’t sell any more EXK (I’d already dropped 10k shares last week), even though it did the “Egregious St. Vitas Dance” today. It’s interesting to note my warning post of last week here. Recall this?
Remember that green line I drew up there when I was cautioning you to let a little go last week? Well, here’s that same chart today…
Uncanny, no?
Will it hold? I’m not sure, and we must remember these momentum burners tend to have the harshest pullbacks. That said, I still like EXK on a further pullback, as well as SLW if you are lucky. On the young gold side, AAU, NGD and yes, EGO are already starting to look tasty. ANV is not far behind, and keep in mind also “dark horse” and relatively recently introduced XG. If it continues to move like this I will do a feature on it soon.
Keep in mind these things can get oversold in two days… it’s just that volatile. So be ready with your trenchers full of soapy cabbage for opportunities that will be knocking sooner than you might believe.
Best to you all.
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Might be the 2nd time I understood everything you just wrote. Now the REAL question is.. where the heck was I during the last year on these epic calls? When in comes to PM’s Jake. Having you as a guide is a godsend. I’m watching closely. Charts with explanations is super helpful.
Glad I dropped all my EXK and SLW calls on Friday–well up from where you suggested we buy them–thank you sir! As ever, your advice is worth its weight in….well, need I say it?
Still holding all my SLW, though–remains my single largest of the silver stocks. Dumped my AGQ at the open, which was a timely move. I suspect you are right that things may still shake lower before they go up. Was looking pretty nasty right after lunch–still afraid to check my end of the day balance!
Lightened up Friday afternoon – knew it was too good to be true… I await reloading instructions…
What you think Mr. Gint, about 10.10 – 10.20ish for EXK pullback?
hope not,i harvested twice exk last week,then added some more before close yesterday,i dont feel that bad,considering nothing is green this morning in every market except china up a smidgen which might not last through the day.
I’m with ya! Thanks much!
Will be watching for those potential oversold entries above. You have certainly taught us well to be prepared for these swings.
DailyFXTeam: Risk aversion seems to be the topic tonight as lifted atomic alert level, dampened IMF outlook push yen, dollar higher versus majors.
Short usa/aud on next bounce !
Made great money off $XG. Looking to get involved again around $6-$6.25
Sold another 1/3 of AGQ. bot some WNR calls. Stalking NGD, EXK and AG.
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ditto on the stalking. almost pulled the trigger a few times but, alas,…maybe tomorrow.
Got a little NGD… 5k shs.
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Jake, im curious
Instead of doing all these individual names, why don’t you play just the silver miner etf: SIL ?
Returns.
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Jake, I need your input. I “almost” waited long enough for the silver pullback. I bought AG 04/06 AM. I am getting shallacked, but unsure what to do. Any suggetions?
Damn! The 6th? Absolute top? Nice shootin’, Tex. 😉
If I were you? I’d grit my teeth and hold on. Sell a little if it makes you feel better, but if you don’t need the money, I’d just wait.
This shouldn’t be much more. In fact, AG may have turned already. It’s up in AH.
This should be a good experiment in cement headedness. You see, in a bull market, you can afford to “buy wrong,” as the bull will eventually bail you out.
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I am grateful for your insight. I was considering staying put. However, I respect your knowledge and wisdom. Attempting to insure there are no other bling spots. Should have placed a 5% stop. Lesson learned. Will be paying closer attention to your blog. Much obliged amigo.
Up 11.3% this morning? Never fear.
Got too damn cute with this yesterday hoping to jump in below $20 today. Now it’s running 15%. Gonna have to wait until it simmers down again.
I had the same erreur.
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I got in it was already up 4%, but I got in anyway.
http://www.youtube.com/watch?v=PX_687HwX9c Lol
That is pure hilarity. Pure hilarity.
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http://www.youtube.com/watch?v=gwFvNYSCmhM&feature=relmfu
You might like this one too.
The pretentiousness of the moderator in slowly repeating certain word with the same meaning is great. e.g., “at this point or should I say juncture.” Ha!
JG or others – any take on the massive put position on SLV from monday?
I’m guessing trader looking for little pull back
http://www.bloomberg.com/news/2011-04-11/silver-etf-options-trader-bets-1-million-on-37-slide-by-july.html
My guess: It’s a write-off to purchase a scary headline that shakes a few clinks into their long positions and buys a little more time before “silver mania”. http://www.youtube.com/watch?v=p1NCqVtnqpk
Considering most Option traders are wrong.. I’m hoping for a tiny pullback in Silver today/tomorrow so the PPT will give it a 2.35 which has been the Buy Zone for this one. (until it’s not).
Looking forward to Jake’s interpretation.
What is your target gold/silver ratio by the beginning of summer? Will you be trading gold for silver until this summer when the ratio drops a little bit and the trade back over to gold?
I am new to the pm trading/investing and am looking for a little input on when to trade silver and gold.
Thanks for the help.