Thursday, July 22, 2010

Another Day, Another Lesson

Uncle Buck trying to break down again and copper is ripping higher. The base metal miners are confirming. From overconfidence to fear, I feel like a sucker right now. I decided not to let profits turn into losses and cut bait this morning on my short positions, barely squeaking out a profit. Plan to watch from the sidelines in cash for now and re-load on shorts if we manage to get higher. Ahhhh, life as a novice trader.

I am now in my largest cash position in months in my trading account. Still waiting patiently for lower Gold prices before buying more physical and still waiting for the Gold miners to come to papa. These are all short term considerations, of course.

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