It sure was an amazing week and by far the best week of the year so
far for myself.Not for gold or silver by any means and thats why
I just hold some physical gold and silver and focus my daily energies on
finding the big winners.
With earnings season in full swing we saw some great numbers come out
this week and while I generally avoid holding positions over earnings, often
a gap higher can be bought the next day after good numbers.
We saw this occur this past week with one company up huge on earnings
and then triggering a buy point only to see it rise over 15% the next day or
One stock weve
been eying for a while got caught up in the euphoria and ran some $39 on
Friday alone from my buy point very early in the day.
Another we were on ran 7.5% on Friday alone out of my buy point.
Why try and trade gold and gold stocks when the real gold mine is in
these types of plays?
While not every day or every week is like this one past, they do
happen a few times a year generally and if you are there and ready with buy
points, a few times a year you can make more money than youll know what to do with.Seriously.
Gold dropped off by 1.55% this past week and is not looking good at
I did say that I thought we may have seen the low in gold for 2013 and
that looked good until this past Thursday came around.
Now it looks like we area heading back
towards the lower end of this downtrend channel near $1,620.
While I hold physical gold, I do trade gold the odd time through the
GLD ETF but we never had a good setup for that occasion this time.Some were wondering why I wasnt buying a trading
position off the lows near $1,640.Now we know why.
only buy something off a good buyable base.The
higher the chance of something moving the better.I wont
just buy something for the sake of it.
I like easy money and will wait for it but even then not every buy
works and thats
why stops are important and I focus heavily on them.
Gold does not look good here but when it does Ill let you know but
subscribers do get my views on gold and silver daily and have a jump on
readers of this free weekend letter.
Silver slid 1.87% for the week past and fell out of its rising wedge pattern.This $31 level is a huge pivot point,
or magnet for now.
heading back below it now and Im not even coming close to considering trading the
SLV ETF or adding to my physical silver position here.
Half the battle is not pushing buttons and trading.Waiting
for the right times to go is as important as finding good setups.Patience
You can literally go weeks or more without a trade and then have a
huge trade of several hundred percent.
It makes life easy to sit around and watch and wait and it may feel
not earning your keep.Then all of a sudden, youll
get a move and trades like we had on Friday and you really only need a couple
of them a year to bring a big smile to you face and your trading account.
heard from quite a few subscribers whove more than tripled
their trading account Friday using less than 20%.Those emails are what I live
for but they dont
happen all the time, but youve got to be ready when they appear.
Platinum rose 1.18% for the week and is setting up a great trade-able
pattern here.A move up and out of this little wedge
or triangle is the buy and the chances of it working increase exponentially
if we see a huge increase in volume on the move.
Finding these types of setups is what I focus on, especially in fast
moving leading stocks.
People tell me the expensive stocks are too expensive.I
use options often to make them cheaper and increase leverage but there is a
reason stocks are expensive.
A BMW is much more expensive than a Kia and its because its a
far superior product.Its the same with stocks but so many just cant
wrap their heads around that concept.
While many think a $1 stock can double much easier than a $100 stock its
not true as the more expensive stock has a lot more buyers and interest in
A $100 stock may seem expensive to some but one this week after good
earnings shot up some 70% in only two days!!!
Palladium is a few days ahead of platinum by the looks of it.The same pattern just broke here as we are seeing in
See the huge explosion of volume?
simple as that and now were looking for higher prices, albeit palladium
usually trades pretty slowly so I dont trade it often.
it here as Ive
got a lot of charts to go through for subscribers this weekend.
If you think Im making some sense and would like to learn and see
my style of trading and looking for the big fast winners then please do subscribe to get my
daily trade ideas.
All the best this weekend and in the week ahead.
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