Market Curiosity: Exploring Markets And Systems

September 9, 2012

Silver and gold – Long if a buy stop triggers near yesterday’s highs. +103% +130% (update 7, Oct 21)

Filed under: +Over +101%, Futures Trades, Long Calls, Mistakes — Tags: , , — Jeff Fitzmyers @ 12:00 pm

August 8
First, you might like to read Peter Brandt’s Should the inevitable chart breakout in precious metals be trusted?

Tight stop loss a bit below yesterday’s low.

References:
+ Silver, looking to go long SIZ12 on a stop

Update August 9 2012: In gold at 1619.5 (margin $9,100) Edit: Stop loss around 1593. Lowering silver buy stop to 28.27 ish.

Update August 20 2012: Long Dec 29 silver call at 1.46. Will update past stopped out positions later.

Update August 22 2012: Stopped out of gold long at 1593. -30%. Long SIZ12 at 28.27. Stop loss now at 28.38. I should have just bought long dated calls in the first place.

This chart highlights a favored set up of a buy stop on a narrow range 7 bar with support nearby.

Bean oil just showcased another set up.

Update 4, September 9:
Long Dec 29 silver call at 1.46, currently 5.15.
Long SIZ12 at 28.27, currently 33.69. Stop loss at about 31.80 because the minor test of 32 held.

Related
+ Silver: 4 reasons to be long
+ The obvious and GARGANTUAN silver opportunity

Update 5, September 30:
Long Dec 29 silver call at 1.46, currently 5.7.
Long SIZ12 at 28.27, currently 34.40. Stop loss at about 32.25.

Update 6, October 3:
Attempting to add another long silver position near a 34.91 buy stop. Stop loss is a little loose at 34.15 ish. Actually I decided to make a new post: Silver – attempting to add to longs.

Update 7, October 21:
Long Dec 29 silver call at 1.46, stopped out at 3.4. +130%
Long SIZ12 from 28.27, stopped out near 32.25. +103%
I paid tooooo close attention to “news” instead of bars and so left too much on the table. That always costs a lot!

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