NEM and AG: Buying a 3.5% and 2.7% position respectively here

Just documenting this entry.

AG was Tim West's suggestion, NEM, is a good gold proxy here.

Good luck,

Ivan Labrie.

Comment:

Moving well.

Comment:

I doubled my positions shortly after the open, but only mentioned it in the KHL chatroom.

Comment:

Looks good, crossing fingers for the Italy news...

Comment:

For AG traders (this was posted in the KHL chatroom in response to a query for someone who missed the trade, but it is valid to add to it as well):

" s3.amazonaws.com/tra...shots/9/96LVXhkk.png
the tight stop option might be too aggressive
I'd favor the stop at $7, risking 0.5% for the first entry you take
and then gradually adding
and reducing stops
in this enviroment."

Comment:

"$NEM is the same
s3.amazonaws.com/tra...shots/w/wsjhVUmg.png "

Trade closed manually:

I wanted to see the outcome of the weekend news, but the result was appaling for risk off bets, so I'm out of all risk off positions.

Comment:

Interestingly enough, these are turning up again, despite risk off factors being mitigated. EURUSD is rallying, so we might see a continuation of the upside, perhaps we can reenter soon.

Trade active:

I actually reentered a day ago.

Good results so far. Test of resistance, but we didn't break above it yet. I think it can go a bit higher while XAGUSD rallies.