Wednesday, June 24, 2009

Looks like the precious metals have their giddyup on this morning!

That's good news as I was starting to get a little nervous in the action in GLD/SLV nearer-term. I mentioned a few posts back how you can get chopped up and frustrated trying to time entries in and out of the metals (especially if your intention is to trade a position that is really core to your beliefs). Meaning, if you really believe in a position my recommendation is buy a core position and believe in it (don't trade it) and then if you want to trade around the core position (adds, hedges, puts, sell calls) will additional positions that you recognize as trading positions you will have more success and less frustration.

Also, from a techy perspective the GLD chart looks pretty good on this bounce off of $90. I will follow up with the charts later.

No comments:

Post a Comment

None of my content is a recommendation to buy or sell any securities.

Please do your own research or consult an advisor before making any investments.