Tuesday, October 26, 2010

Trade Update: HL

When Goldman Sachs said that gold would go to $1600 an ounce in silver to $27.65 per ounce you just knew it was time to sell gold and silver. While the Golden godfather is shafting its friends, family, and clients one more time we will be protecting our profits.

We are long 25 shares of Helcia Mining Co. at $9.13, and long another 75 shares at $2.09 for a cost basis of $3.85 per share.

Taking a look at the daily chart you can see some support setting up at $6.50. Lets push our stops up a dollar from $5.25 to $6.25.

If gold and silver selloff, don't get scared and don't get greedy, just set the stop and walk away.

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