Dollar strength bearish for gold....cautious...of miners despite
apparent bottoming process.
When I first munched on CDE again in 21's to 23's...after the fall from the 30's...had hoped for clear and obvious turnaround in gold and silver...which STILL has not occurred, imo.
That was the reason for selling (as posted) repeatedly into the upmoves, tho I tend to do that as I'm trading into most long positions when I can manage it...to protect any gains...and to guard against higher losses.
Did not add to any miners today and posted other possible areas for trading...NOT as recs...but for experienced traders and technical guys (knowing more than I do) to check out.
MIGHT sell my new purchases in mining at about breakeven IF dollar continues on up and miners on DOWN...to observe for possible new entry. Still holding small amount of CDE, as I mentioned, and at loss, even with the trading.
As for 'trading' ideas posted on this message board...one of the reasons I mention them is the interest others have traditionally expressed (for more than a decade) here....in OTHER areas of investment...including biotech and other types of mining, as well as energies and alternative energies...and 'niche' ideas.
Results of short term trading for those I mentioned:
DNN to which I've added in tiny bits recently and again this AM is green by 3.82% with a close at 1.36.
LDK did not continue to print the rectangle I had hoped for, but fell to a downside trendline...a bounce point...but NOT a good choice for today....TAN moved down...and other solars did as well, in many cases.
PCFG up 8.33%
URRE...also mentioned elsewhere...back up 4%
EDAP up 2.38%.
EXM closed up 6.71%.
Have traded into upside bounces recently as posted...twice in CDE and twice in EXK...with 'additional shares'...more than I was holding as tiny potential long term nuggets.
UUP (dollar ETF) seems to be at slight resistance area on weekly chart, but has been incredibly strong, at least from a technical standpoint lately.
Meanwhile, FXE (ETF for euro) has fallen...wary...
DEJ is still at the .21/.21 50ma/200ma crossover area...very close...tho concern about near term financials may be a factor in movements, despite what I interpret as positive Kokopelli drill news. Close down 2.96%...have only 8000 shares...no biggie...small guys are highly speculative...would add/trade if I see a pop...hopefully adding heavily for a high short term gain and likely keeping some.
LDK down 12.03%...biggest lower in my trading portfolio, since I own a small amount...was hoping for a trade and was not at computer to sell when fell.
Two losers....and DNN EXM PCFG EDAP BSDM were gainers.
To clarify...for anyone new to reading my posts...I NEVER intend to invite others to follow my picks...
OR my entries and exits...
but ONLY to find wise ways to diversify...even into other TYPES of markets...example real estate, agriculture, art, ...or antiques/whatever, as appropriate IF and WHEN in YOUR opinion.
The longer term for gold and silver may well be (as I still expect) into the stratosphere, but there is no use losing money in the interim....
AND it is helpful to companies, particularly small biotech, to invest in them.
EVEN trading is useful, since the increased volume makes the stock more inviting for investors, who see they will be able to sell more easily IF necessary. Moreover, I try to choose companies (except for tiny trades like PCFG) that are likely to be long term winners....where I find the science to be worthwhile...examples: EDAP BSDM CYTX and many others.
For miners, I have posted I overweighted EXK recently, and I do hope to be overweight there again once the pullback reverses back to up.
I'm an advocate for small investors (meaning 'non-institutional) to learn technical analysis and to use short term, long term and intermediate term charting for entry AND for partial or full profit taking. ESPECIALLY observing MONEYFLOW and TRENDLINES.
DNN has positive news today '...identifies new mineralization intersected north of the Phoenix deposits at Wheeler River and high grade mineralization intersected in infill drill holes'...see DNN website or Yahoo summary page for DNN...or 'in play' at Yahoo
Volume moving in and is up another 2.94%.
EDAP +9%: see news re robotic HIFU for focal therapy for cancer therapy (prostate). EDAP will save lives and be a great help to MDs and health care professionals, imo.
Meanwhile, LDK fell another 11%...will report soon. Stock had already made a lower high and was NOT in a clear short term uptrend when I mentioned it. ALL solar stocks are HIGHLY speculative, imo, due to political 'winds' and many other factors...tho I do eventually expect turnaround in la creme de la creme...I only hold tiny amount unless/until I see bounce....then I trade. Some see FSLR SPWR and some others as being among the better solars, tho, imo, ALL are highly speculative and should not be a large portion of a portfolio except for an occasional overweight trade by an experienced trade, imo. LDK is considered among the runt of the litter solars, but it does have spectacular high percentage moves...and I do trade for SHORT TERM GAINS in these cases...so not a rec...NEVER a rec...always simply observations.
PCFG was up another 8% or more from yesterday's close...ALSO a treacherous trader, tho it's POSSIBLE it has bottomed. ONE of the reasons I believed (correctly or not...needs confirmation) that miners were in a bottoming process was precisely because of tiny miners showing bottoming.
TAT still around the 50ma/200ma area...and EXM pulled back some. DEJ...might need to wait for earnings ? for the move...could be a dip...which I hope would be followed by upmove.
MINERS, including precious metals miners, doing nicely today. Euro back to green...UUP red.
JUST an opinion regarding some short term overweighting trades in highly speculative stocks. Agape!