Last drop, bought as low as 0.965 and sold out above 1.26...Bought back so far from 1.15 to 0.96.
With an average of 1.03 and we will see what will happen?
It will all depends on palladium and the rebound which is now due (RSI under or around 30). I cannot believe to see palladium at 665 now.
Bought some PLG today at 0.88 and added more PVG and IAG...got back on EGY SWC make a nice trade on ACI etc etc...Very busy day today indeed.
I liquidated all my 4K swc at 11.67 yesterday. With dollar strong and hints of QE "tapering" all commodities today (meats,metals,grains,energy) are getting hit hard. The only single exception is soybean group.
I expect the strong dollar headwind to continue for a long time.
I take some nerve to trade the metal market now after Bernanke...But as always good days follow bad days etc etc...My cash position is still high and I am only invested about 23% in stock and commodities...Will go as high as 45% if the dow goes back to 12K? Day trading will help...
SWC has lost about 2 dollars in few days!!! and the trend is general. A BIG RED!
Maybe this situation may push SWC and PAL to partner up? I CANNOT believe that these 2 Companies are not already together???? What a WASTE in business...