Thursday, October 11, 2007

Breaking Even on SLW

Today's jump in Silver Wheaton passed through my exit price target that I set a few weeks ago.

So I am now out of SLW and I didn't lose any money on a 'bad' trade that was based on emotion as expressed in my initial post on the subject stock.

This sale continues the trend of late for me. The strategy hasn't fared too well for me but it has allowed me to grow my war chest should a dip occur as I suspect it will in the next few weeks. In fact, the start of that dip might be today at many of the Canadian stocks on my watch list surged forward in the morning only to collapse in the afternoon. SLW happened to take part of this market activity as shown in the intraday chart below.

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