Gold dropped $13 today but a lot of stocks moved higher. Proving once gain that you shouldn't trade on anything else than, on what the market is telling you and not the commodity. Lots of stocks go down when the price of oil goes up and a lot of stocks move higher when the price of gold drops like today. Each commodity is different but unless you're buying the commodity in it's physical form, just ignore it.
This is about timing the market and watching the price and volume action of individual stocks. This is stock picking and gambling on buying stocks. Investing this is not and also it's not day trading. I have never ever bought and sold a stock during the same session.
Let's see what some of the stocks I talked about yesterday did today. Let's assume you established a position in any number of the stocks I mentioned and in only one day how you would have made out. These are some of the trading opportunities I'm betting on at the moment.
The biggest winner is GSV up today 6.8%. A clear winner on my list. If you would have bought GSV when I first put it on the watchlist 11 July, you would be up a total of 12.7% on 2500 shares purchased at $1.87. The stock closed today @ $2.03. This is a nice bump in only 5 trading days.
Let's look at the Gold Stock Watchlist compiled yesterday;
ALO .5%
AKG flat
NVO flat
GSV 6.8%
MUX 1.3%
OSK 5.4%
PVG flat
It's pretty impossible to be right 100% of the time, that's why I only commit $4K to any one position and never buy more than 5 stocks at a time. This is for entertainment purposes only.
My one position that I did buy and still hold is ELD and I'm down 2%. We'll see where it's at Friday. It's easy to look back and say I should have bet on the GSV horse yesterday but I didn't, I bought ELD instead. I still think it's ready to breakout but I need more volume to come in soon and confirm the uptrend after breaking it's 50DMA. I still rate it as a buy for a speculative gold stock.
Do you have a gambling portfolio you use for fun?
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