Loading ...Maybe I’m like the Rabbi in Raiders, but…
…this is a beautiful chart. I mean right before I say it’s beautiful and my face melts off….
But…the ABC correction is so classic. Even if you had the balls to hold on as the first dip to 65.25’ish didn’t shake you out, you probably puked up you silver longs on the dip to 61 or 62 this morning (for futures trading as ETF’s were locked until the open). You’ve wiped out all the specs and non-believers and the selling is mostly done. All that’s left is buyers, so price goes up.
Good luck to all. Been hedged since last Wednesday, waiting to see if we dip again into Wednesday. If price continues, I’ll reduce my hedges and pour into silver and gold miners that I love that got whacked hard in this drawdown.
If you are ballsy, you buy here and watch the 95 level…more conservative, wait for the 95 level, and look for a breakout on larger volume. Probably clear 95, and then have a retest to 95 before she takes off. That’s my gameplan. You don’t have to like mine, but have A GAMEPLAN!! People never plan to fail, they just fail to plan.
PM STOCKS RALLYING EVEN WHILE PM METALS FLAT…A GOOD SIGN BUT ALL DEPENDS ON IRAN …FRAGILE
Yes, that’s why I’m waiting for at least Wednesday…to see if this is just another ruse by Trump before he bombs more shit…and the markets tank.
My only plan was to sell over half a few weeks ago when things started to look sketchy. Everyday or so, I’d nibble a bit in the morning when the miners would drop sometimes near 9%. Doing that regularly with LGCXF Lohantan Gold Corp for example never let it get over 20% down even with consecutive days where it dropped over 10% in the morning. It would almost always recover toward the end of the day maybe 5% down. I did that for well over a week until I accumulated a rather large position only 10% down today after moving up for a change near 7% from where I started quite some time ago while most miners dropped 40% or more. Lahontan seems popular. Sorry for the confusing trade description. Very amateurish method I’m sure, just lucky it worked.
Hedge, then buy in later on dips with a high conviction stock…sounds like A Plan.
That was my mistake, mainly because every time I’ve hedged with DUST or similar, I’ve either broke even or lost. My timing is always off because I wait too long or pull out too soon. Never fails. You’ve done well with DUST or whatever instrument you’re using. I just can’t. My mind doesn’t work that way.
Sorry, I wasn’t knocking your method. You sold the underlying (LG.V) which is a “hedge” in itself. Good job. Fear and Greed can rule trading, managing those emotions are half the battle.