Harvesting Silver stocks…

Posted by Chris Kimble on 03/10/2011 at 6:13 am; This entry is filed under Scoring on defense, silver, Silver Stocks.

On 3/2 I shared in a post that I was concerned that a stock market decline could have a large impact to Gold & Silver stocks (see post here)   Earlier this week I noted that Gold stocks were breaking key support (see post here)   In a different post, patterns in Gold were suggesting investors should be cautious (see post here)  Below is a long-term pattern in SLW that should be respected.

CLICK ON CHART TO ENLARGE

Game Plan...If long Silver stocks/SIL we are going to harvest.  Should Silver break key support, harvesting will be planned. 

Keep in mind due to Copper/FCX  breaking key support we are attempting to score on defense, with the purchase of SMN (2X inverse basic materials ETF) a couple of days ago.  

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4 Comments

  1. Mark S. March 10th, 2011 at 7:49 am

    Are you also harvesting mid-caps?

  2. Chris Kimble March 10th, 2011 at 9:08 am

    Mark…yes we are on the trend break.

  3. Tal March 11th, 2011 at 2:34 am

    When you say harvesting, are you typically selling all or just a percentage of your holdings?

  4. Chris Kimble March 11th, 2011 at 12:41 pm

    Tal…Usually it is all of a position unless otherwise noted. For aggressive traders that were overweighted in PSQ of late (double short postion) they harvested half of that position.