Thursday, November 18, 2010

BUY AGQ at $123.00

*
Today I bought just one stock which was Proshares Ultra Silver (AGQ) at $123.00. My portfolio is now heavily weighted with silver and silver miners and even about 15% extended on margin.  I usually do not use margin but as I believe we are beginning what will be the last bullish daily cycle of the Fall season, I will flat out go for it.
*
Silver continues to out perform Gold.  I note that on the daily charts of both GLD and GDX, neither has made the ZERO crossover, and GLD has not yet even made a trend line break.  Meanwhile, both SLV and SIL have made their trend line breaks official and today each made the ZERO crossover.
*
Click on the chart to ENLARGE
*
My TSI Trading record has been updated.

Posted by at

5 comments:

  1. AnonymousNovember 18, 2010 at 5:57 PM

    John,

    Have you found that the 2 hour chart signals are not very effective as it appears that they would have given much better entries on AGQ - as illustrated in the link...
    http://www.screencast.com/users/Thought/folders/Jing/media/9016cde7-3648-43c0-94ff-210db706183b

    Neil

    ReplyDelete
  2. EnlivenNovember 18, 2010 at 5:59 PM

    Can I short your SIL purchases (#125 on your record)?

    ;)

    ReplyDelete
  3. John TownsendNovember 18, 2010 at 6:44 PM

    Neil - what a clever way to show a chart. That was really kewl.

    I absolutely love 2 hour charts....4 hour charts, 1 hour charts, sometimes even 30 minute charts.

    For me it all depends on how much free time I have available to babysit the trade. Right now I have no time so a daily chart with and eye on a 4 hour is about all I can handle.

    I don't know if you recall this, but last summer when I was on vacation I nailed the absolute bottom in gold on July 28th using the 60 minute chart. And I mean nailed it. (http://thetsitrader.blogspot.com/2010/07/1-hour-to-closing-gld.html)

    taber - you can short my SIL purchases if you want and I will politely wish you good luck :)

    ReplyDelete
  4. AnonymousNovember 18, 2010 at 7:28 PM

    Very nice, John.

    And you could be selling on 30 min divergences all along.

    Best,
    Neil

    ReplyDelete
  5. Norman TamNovember 19, 2010 at 4:35 AM

    Hi John
    Thanks the advice on SLV I'm make a little Money on
    Nov 20 call 24 and holding on My Dec 18 call 26.
    Norman

    ReplyDelete

Subscribe to: Post Comments (Atom)