You people are all about the stocks!!!

Just checking my blogger posts, and I see that most of the recs that I put out there are well read.  That's good, and honestly I enjoy that you are reading those posts, but there is more to just buying junior resource stocks.  It's also about selling at the right time!!

Remember, we are surfing the wave out there, and right now the Gold and Silver wave are crashing down from their highs.  You don't want to be getting the crap kicked out of you right now buy buying everything in sight.  I think gold and silver will be correcting for about the next 4 - 7 days, but after that they should be up for a nice rally into the May timeframe.  After that, it's the summertime blues for the PM's, and I intend to sit it out from end of May to mid August.

See the gold and silver charts.  Look how MACD, Williams, and Stochastics are all rolling over.  It's riskier to buy here or hold here, than selling.

Quick question for anyone out there.  What's the symbol for gold and silver on freestockcharts? Anyone know.  On stockcharts it's $gold and $silver, but can't find them for this charting software.  In any case, if anyone knows, just leave me a message in the comments section.

I may try and do some timing on some individual juniors or play some options on some of the bigger gold and silver names during the lull, but only if I see bargains that merit a short-term play.  Let me tell you, I have gotten burned during this Precious Metals run for the last 10 years.  I got absolutely slaughtered in the 2008 wreck, but I imagine most people did who were heavy into the metals.  Thank the good Lord that I held on, and recovered quite nicely during 2009.  It was a gut wrenching time.

So, I am trying to be smarter about timing some of these moves.  On Monday, I sold a lot of my positions.  Honestly, I looked at the stocks and the metals on Monday morning, and they were not acting correctly.  Silver was pushing $42, but the stocks weren't along for the ride.  So, I started selling most of my PM positions, and have avoided the 10% haircut I would have taken if I had held on to everything.  The trick now for me, is to get back in if I think we are still headed up for the month of May.  And I do believe that is the case.  I played my instincts earlier this week (see my last post about selling SQI.V and SPM.TO), and now I have to play the re-entry smart as well. 

So, even though you may not enjoy reading my other posts, I do recommend you pay attention to them as well.  At least skim them.

So, at this point, you might want to put in some buy orders another 5-10% below current prices, but I wouldn't be buying hand over fist yet.  Big picture, give the metals another 4-7 days, and I think they'll be ready to take out the old highs sometime in May.

To all those that took a a$$ kickin over the last couple of days, my regards.  I have been there all too often.  I got lucky this time, but I still have to re-enter.  That's just as tricky.

Until the next time...

Fiat Doubter