Bagholders all over the place. LoL check out the News.
This all sounds good, however there is one fatal flaw here, IMO. That flaw is that HL has to take out the High of the Day, which is $3.14. Very rarely does HL take out the High of the Day, so your target may be muted. Not trying to be disagreeable here, just an observation. Also on Level 2, I can see the volume has slowed at this $3.14. Anyway, not a bad day overall...guess we will see how she closes...good luck !
Yeah 2.80 would be scary, but would come roaring back. I have bought it down there before, as PM prices were actually lower than now. I put a position on yesterday on HL and doing fine today with it.
LoL on this getting to 12 Bucks...cannot even approach 11.50 without the Heebie Geebies !!! But you will know when the Next Options are getting dumped...as this SAILS past 12.50 on the way to 13 !!! Red Flags abound at that point ~!~~!!
Very true Trader. Can you imagine how many mines would be closed at that point ? Yup all of em !!!
I understand your concern B...but if such concern, why would they allow Lucky Friday to reopen, or close it if that kind of concern ? I am sure that has been looked into !
Thanks for the advice and encouragement Drawn. I have done a few of these swing trades with HL already....I just never told anyone !!! LoL. Yes I expect some pitfalls along the way, but that is all part of it...nothing is ever in a straight line. I just have a 'starter' load right now, and will add as I go, watching Volumes is key. Last time I did this I was in and out a few times. The best one was when the Fed made the 'surprise' announcement of Continued QE ( a few months ago). I had both EXK and HL LOADED up in front of that, and had the best two trades of my ALL TIME !!! Made some serious Cha Ching back then. That was just a few months ago too. I will never forget that day...I was not at home at the time, but was able to Wifi my laptop (I was at a hospital with my g/f). I knew of the announcement, but waited an hour as we were going to a hospital room as she was admitted....I knew things were cooking, but I had to take care of matters with her, so waited it out (only took an hour...lol). Boohya when I restarted my laptop !!! I remember selling HL at $3.90 back then. Next morning I sold EXK at $5.20. One thing I learned from SS was how they will retrace after a run-up, so I had NO Problem getting OUT !!! LoL. As you can see, I was a tad excited how that one turned out.
Anyway...appreciate your input Drawn. Guess we will see how it works out. Patience is a virtue. Will look in during the days as I can !!!
Drawn, I recall you making that comment about Yellen. That too was part of my decision here late this afternoon...not that I see the PPS ridiculously LOW right now. I had the same feeling months ago when this thing was at $2.85 and stared at the Ask. Now for the others who may be reading right now...you see the Futures trading eh ? See how they are UP ? The Ask right now is only $3.10, and had been jacked by the MM's to $3.14, but they backed it off....they know this is going UP ! Catch it now and thank me later !
Good contribution, Kored...thanks ! How about that Gold at the End of the Day ?