7/21 Today's Watchlist: IMRN TWTR MU IBIO SRNE FB
- Thread starter KCalhoun
- Start date
Thanks! Also oil plays OXY UCO etc up too
As I suggested some time back, playing for upside in the gold miners was likely an easier trade then guessing when US indexes might correct. They both play off the impact of Covid on the economy, related uncertainty, and the overhang of all this govt stimulus. However, in the case of long Gold stocks the stimulus itself works with you rather then against you.
Sometimes the very best trades become rather obvious during or after the move. I got in on this early ( mid March ) in a big way because I remembered 2009 and trading options on miners and underestimating the profit potential on many of my trades. Copper stocks did extremely well in 2009; we may be early on copper but if the virus is contained in Asia they will move up hard now as well. So this year is a second chance to do it right and it's working out really well for me. I also got a cash rich family member heavily into mining stocks because they were hesitant to be long anything else in this economy beyond a day or two.
Excellent points, congrats re gold, it's been strong. One of my traders told me about silver etf SLV, it's also ran well.
I prefer the miners to the mining etfs but have traded HGU ( 2 times miners ) quite a bit for intraday moves. For silver I've held FVI since March and traded in and out of SVM. Unfortunately, I missed out on a 50% move in SVM in about a week.