Yamana

Got a feeling I should have shorted when I was mentioning it on Thursday. Everytime it hits all-time highs, it pulls back quick and hard. Because of Cramer, Yamana is one of the most mainstream miners out there so there are a LOT of weak hands involved. Any type of pullback and we'll be right back into the $15's again.

Just throwing it out there in case the opportunity to go short presents itself early next week.

Kitco

Not sure if any of you guys started over on that forum like I did, but it's like a dictatorship. They closed the FGOC thread yesterday because Glitterbug (who is a great guy) was baited by Plata'y'oro and it became personal. That Plat guy is the same reason I got myself banned from there.

Anyone here involved in FGOC?

Goldfinger

My thoughts exactly on SKF. If it continues to run I may consider taking a position in UYG (the long). Long-term I see us heading towards $150 but not until we break out of the range the market has been in (12,150-12,750 Dow).

Everyone else thanks for the intro's and i'm glad to have you guys aboard. Hopefully we can all help each other as we seem to have the same perspective when it comes to trading. I appreciate everyone's contributions.

Age

Sorry I missed your question before John.

I'm 37, not sure about anyone else.

Great job this week. Hopefully we can get em again next week.

SKF

Peter,

Basically if my "gut" is wrong and say Asia & Europe sell-off Sunday night and we look like we're heading for a nosedive Monday morning, the bottom line is I wouldn't let it bother me that I wasn't in SKF. Instead i'd shift my focus on what my next move would be (adding to my miners on the sell-off or whatever). Whenever i'm sitting on profits like I had in SKF this week I WILL ALWAYS BOOK and never look back on it as a mistake.

It's impossible to predict what I "might" do but i'll definitely keep you apprised based on what the opening looks like on Monday.

Time to spend some of our profits :)

Have a great weekend everyone. VERY profitable week and we WILL have a repeat performance next week.

I'll lay out next weeks gameplan sometime tomorrow.

Enjoy

Joe

Just a hunch

That I should be able to get back into SKF closer to the $110 level early next week. Until we POSITIVELY break out of this trading range, i'll keep trading the range. Once we break below, we're heading to $150 IMO. If i'm wrong and come Monday morning there's a sell-off, then I just get back in and miss a few %. My whole philosophy is based on not losing profits as it is FAR worse to stay in too long and lose your profits than to have to get back in if a run continues.

Just the way I work and it works great for me. I've seen so many people on GIM all excited about say, SLW, going up 10% and then a certain "guru" posts a chart saying it's going to the moon so they become more excited then 2 days later it's pulled back and they're all bitching.

Thats why I always book.

SKF

All out last portion booked $119.70. WOW what a week $$$$$$$$$$$$$$$$$$$$$$$$$$$$

If I gotta pay more to get back in so be it. BOOKING is the key!!!!!!!!!!

I was right?

I was just asking if thats how it worked? I'd never buy UYG here either even though I do see us getting another shot at buying into SKF lower early next week.

This range has been AWESOME, and i'd love to have another 2 or 3 trips through it before we shoot off to $150 SKF :)

Goldfinger

Basically you could now buy a UYG call or an SKF put?? They would be the same thing??

This is assuming you thought we were going back to the low end of our SKF range.

Options

Not sure why I never signed myself up for them???

Seems like I could basically still use my technique but using the options, right??

Congrats buddy :) Job well done.

BTW it is gonna stay this easy so long as we stay in this trading range and POG is rising IMO

SKF

Booked half my core $116.52.

Was a bit hesitant cause I want to be loaded when we run through the $120's, but I think we're still in this range and will pull back early next week giving us a chance to do this for a third time in two weeks :) Isn't this so much fun??? ;)

Clueless

As to how the blog time can be reset lol

I'm in Rhode Island (and sometimes Vegas) :)

Go:
Pats
Sox
Celts

We got it made here lol

SLW

I was fully out after it's last run to over $19 then started adding all the way down to under $15 a few weeks back. I then started booking with my last booking at $17.55 a day or 2 ago. I have two more portions to add and they'd be $16.25 & $15.50 in the perfect world. However with the POS closing in on $20, SLW is actually underpeforming and I don't see it getting back under $16.

The reason I added at $17 isn't cause I think it's a low, but because I wanted to replace what I had sold at $17.55. My mind thinks in terms of always trying to book and buy back even 2-3% lower.

Not much

going on right now as we're in a pretty tight range trying to figure out which way we are going to head into the weekend.

AZK short

Covered $4.71 (usually only looking for 3-4% gains when I short miners)

Thanks Peter

Have fun in class (what's your major??)

Once you get the hang of this technique it's relaxing and fun rather than watching things go up and down we capitalize on it.

TTYS

Joe

AZK

New position started at $4.64

Still holding the short (this is why I use 2 different accounts)

AUY

Added $17.76 now back to core amount (replaces what I sold at $18.25)

SLW

Just added some at $17.00 ( a way I look at it is that it replaces what I sold at $17.55 a couple days back). I'm thinking it goes lower then I can add to my now full core.

My AZK short looking nice ;)