| To: Sun Tzu who wrote (115243) | 11/23/2021 12:46:35 PM | | From: Rarebird | | | | What took place in regard to Gold is typical: lots of stocks have strong breakouts and then retreat into their own range shortly thereafter. I went through this with AA, which broke out recently with an 11% daily gain, only to fall back within its old range. But now the range has extended. I am up a bit, nothing special. I am long a number of stocks that go up/down 5% on a daily basis. Their daily range is sometimes 7-8%.
In the case of Gold, I think you were wise selling. I say this because Gold is a momentum trade and the momentum was broken today.
I am long stocks that trade within a box of 15%. They hold the range for months, then boom!! It is all about your time horizon and how you size up the company, fundamentally speaking. |
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| To: Cogito Ergo Sum who wrote (115245) | 11/23/2021 12:58:40 PM | | From: Rarebird | | | | So have I....Thing that gets me, I own a few retailers that are down 3-4% today because BBY and ANF reported earnings and were down 16%. The same thing happened a few days ago to the upside when M and another retailer beat estimates and the stocks surged 18%.
Wonder what the hell my GPS will do when they report after the close? I am going to probably sell half sometime today and play it frugal.
I wish I had a crystal ball. |
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| To: Cogito Ergo Sum who wrote (115248) | 11/23/2021 1:08:09 PM | | From: Rarebird | | | | | I know traders who look back and eat themselves up alive on every move they make and they got ulcers. I don't look back for health reasons. Stock trading is like being an athlete: there's always the next game or trade. Key is not to make the same mistake more than once. |
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| To: Rarebird who wrote (115249) | 11/23/2021 1:11:30 PM | | From: Cogito Ergo Sum | | | | There is always another bus :)
No I am content.. as posted I started at 1.20 range .. :) so a very nice trade with a cushion .. just be careful not to lose the cushion :)_ |
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| To: Rarebird who wrote (115251) | 1/6/2022 1:09:47 PM | | From: Horgad | | | | | Most likely you are correct, unless the Feds have finally lost control of inflation and the currency. That being a rare once in maybe 100 or 200 year event, people should not bet on it, but rather should be insured against it. IMHO |
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| To: Rarebird who wrote (115251) | 1/6/2022 1:19:57 PM | | From: Sun Tzu | | | | I wonder if some central banks are adding to their gold reserves.
What do you make of silver? I would have expected that it should be doing much better than it is based on pick up in industrial activity while the mainlining capacity is still not that high. |
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