Picks Update from May 20th Post

Just a quick post of updates to the May 20th "Picks" post.  Some good, some bad.  I continue to like Tinka, despite the performance since May!

Obviously, yesterday was a nice day to hold miners.  Some are saying the short squeeze is "on" and now it's just time to hold.  I agree, but was only able to put half my money where my mouth is, selling both NUGT and half AGQ positions while they were green. 

Selling and Buying

Today I sold my First Majestic (FR.TO), a 7% stake of my portfolio, which takes my total First Majestic down to zero.  I'll buy more at next cycle low, but I might split the allocation with Endeavor, since it outperformed.  I was a little worried about FR because it was both rejected by the 10dma and failed to move up through volume price support; it could go down to $13.50s, which about where I originally bought it ($13.65) back on 8/12. 

I also bought a little more Tinka toward the close today.  Sort of silly to see this breakdown, but as this is one I want to own long term, I didn't hesitate to add as it broke down below it's old lower bound of .68 to .65.  This was a sell the news-type fluctuation, I think, as Tinka just posted news today, reflecting more silver-laden drill results.  Go figure:)  Tinka Drill Results--NEWS

Buying and Selling

Sold positions from August 8 today, including SLW, AGQ, and GDX.  I also *bought* more Tinka today at .69.  I will be looking to reload after a correction, and will post when I do.  Endeavor has been doing GREAT, but I'm not sure if it will have the most gas left. 

Happy trading! 

Leaders Today

Here is a quick list of the leaders I'm watching:  First Majestic, Endeavor, PanAm, Silvercorp, Silver Wheaton; and for juniors, Scorpio and Alexco are doing well.  Stops have been moved up on yesterdays large positions in GDX, AGQ, and SLW, so unless there's some major premarket action, should profit at least 6% on the miner positions.  Tinka did move up today, but only to .74, so I could not excersise my exit target of .75.  SantaCruz is down slightly, but this is a move down from the upper BB (10,1.9) about halfway to the 10dma.  Not worried (yet).

Buying Today

Like many other PM watchers, I was a buyer today.  I bought SLW, TK.V, AGQ, SCZ.V, and GDX.  I have stops on the larger positions (SLW, AGQ, GDX) but not on the juniors.  Tinka seems to have reestablished it's pattern of lagging a day behind the mining sector.  Tomorrow will test this. I bought at .69, and will sell this tranche when (if?) TK gets back to .75, which would represent an 8.7% profit.  Fine by me. 

SLW looked glorious today:

Weak Sauce

Taking profits here on OLE and SCZ.  I'll leave the Tinka position on since the range feels more established.  Weak sauce here from the little miners.  Plus, gold just broke down some more, and the dollar looks to me primed for a bounce.  I'm also selling a UGL position from a couple weeks ago for a small gain--basically enough for some chicken teriyaki for lunch! LOL.

Adding Some

I added to positions today in TK, SCZ, and OLE, which looks good on the daily chart going into the close, while the weekly had shown a swing and the MACD has turned up.  Small position with this setup.  Check it out: