Perfect Timing on Gold

by JDH on May 20, 2017

Perhaps the timing was not exactly perfect, but it was close.  The chart shows red circles where I was buying, and the blue boxes were the sell orders.

I was buying on April 27 just under $31, which I thought was the bottom, but it wasn’t, so I averaged down again on May 5 at under $28.  I then placed sell orders at $32 and $38, since that appeared to be previous resistance levels.

The sell order at $38 was placed a few days in advance of the actual fill date, so it was a case of “set it and forget it”.  This time it worked perfectly, because $38 ended up being very close to the top.

Sweet.

I then placed a buy order at $34, but only got filled on a small number of shares, so my position now is very small.

That’s fine.  I have profits, and cash, and no worries.

I’ve also got sell orders in on a number of other stocks, because my goal now is to get to 50% cash, since the market is looking very toppy, and “sell in May and go away”.

That’s the plan.  Enjoy the Canadian long weekend.  See you next week.