Update On My Positions
The metals were down today and yesterday so I thought it might be helpful to show where my protective stops are..
First of all, I am long the British Pound and short reits, homebuilders and utilities...All of these positions I'm doing well on so I don't think it's necessary to post a chart on them.
I am also long GLD and SLV which I am down slightly on. Above is a chart of both GLD and SLV and in red I marked off where my protective stops are. You'll notice I don't risk much on most of my trades because I am patient with my entries and on this particular position I was able to time in well so the risk is small. We'll see what happens.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
4 comments:
Kevin, I decided not to go into silver after the recent sell-off (approx June 10th) on the basis that the recent re-alignment of the bond markets is a pretty fundamental event and it may take a while for the implications of this to work its way through the markets - particularly metals which are interest rate sensitive. My feeling is that this fundamental change trumps technical analysis at the moment. So far this decision has proved to be correct. I wonder whether you would comment on this given that you are long on metals. Do you feel that the technicals will reassert themselves in the not too distant future?
Hi Throwaway,
Well not only am I long metals but I am short interest rate sensitive stocks and so far I'm doing very well overall on my positions..
I'm losing a little on my long metal positions but doing very well on my short reits, homebuilders and utility stocks..
If I get stopped out of gold and silver, chances are my other positions will become even more profitable..I guess in a way u can say I am hedged..I'm staying long silver and gold until the market takes me out..We'll see how things unfold.
One more thing....if the dollar sells off, that can provide a boost to gold and silver...I am bearish on the dollar and actually long the British Pound.
Hi kevin
What are your thoughts on oil and energy stocks ?
I have been accumulating with the idea once we stop bleeding that we move up to new highs on them .
Thanks for any comments
I like energy stocks on dips...I can't buy them here....I think crude oil will rally based on its seasonal so that should support oil stocks.
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