What a great time to get into GDXJ.
$23.02 at 1:30 est.

Unfortunately, 200 shares is all I could afford.
And that was after selling a couple of stocks to cover it.
The old saying is right, it takes money to make money.

I was thinking the same thing today, but I may wait tell next week when a lot more of the dust should've settled after Obama's speech, Big Ben Confirmation?, other earning reports tomorrow and friday.

I was also thinking about CDE or SVM last friday, but wasn't expecting this kind of move today. Wow, lets see if it holds up, I'm hoping so.

Smoke hasn't cleared yet, so I'm still holding off on a buy point.

Well, it looks like gold is going to be down some more today so you should get your chance. Maybe we'll see GDXJ @ $21??? I did likewise a few days ago and piled back into Lihir Gold. I bought more yesterday and if it's down again today, I'll probably pick up even more. I know S.T. talks a lot about that particular stock (GDXJ) and I was.....thinking about some of that but with LGG-T there's less risk as it's priced lower and I CAN buy that one all the way to zero, as he's fond of saying, should that opportunity present itself. Buy weakness and sell into strength and you'll never lose. Or buy your gold like Granny buys her groceries and that's when they're ON SALE, just like now.

"Smoke hasn't cleared yet, so I'm still holding off on a buy point".

Market timing for a PLOP isn't the way I'd be playing this one. I'd take a small(er) initial position NOW and then buy weakness. That is, if it continues down, then continue to buy IN SMALL(ER) increments. This is an expensive stock at over $20 per share. Let's say one had enough cash for a 100 share buy. O.K. pull the trigger on 50 shares now and then keep that cash at the ready to buy again if it continues down. Right now, it's safe to assume the...."correction" will probably continue....BUT WHO KNOWS (or CARES??) You don't have a crystal ball and predicting tops or bottoms is for losers anyway. If you react to PRICE ONLY, that is, if it's down showing weakness, YOU BUY (some) shares and then when it's on the rise showing strength, YOU SELL, you'll be much more successful in your stock investing career. NOBODY wants or likes to lose money, of course. But there ain't no way I'd even consider a PLOP for getting in GSXJ, or any other stock I can think of either.

On 1/11 this stock was as high as $29.25 per share and right now it's at $21 and some change, which represents about a 20% drop. Here's a hint:

Professional traders and successful stock investors don't pass up a 20% DECLINE in a stock like this without at least buying SOMETHING! And neither should you....

Here's a good video on the subject though it's on GDX: https://www.gracelandupdates.com/video/ ... jan29.html

Here's the GDXJ vid: https://www.gracelandupdates.com/video/ ... party.html

I bought it again at $21.99, I couldn't resist.
I didn't plop all at once, I've bought 3x at around 24, 23, and 22.
If all the people predicting $1500 gold by the end of the year are correct, this could hit $40 or more.
But even if it doesn't, I think these prices are a fairly safe bet for a nice profit.

I totally fell asleep on Silvercorp.
I sold it 2-3 months ago for a profit, but I sold too soon.
I've been wanting back in but it's been so high for so long I kind of forgot about it.
I see where it fell to $4.76 on friday, almost a $3 drop, closed at $5.25.
Anything under $5 would have been a great buy, % wise maybe better than my last GDXJ buy.

There's been a lot of bargains out there lately.
I wish I had enough money to really take advantage of them.

Chux,

A couple weeks ago ST was talking about the mania phase of mining stocks,
and how stocks listed on U.S. exchanges will go up faster because of their availability to more investors.
The more I think about this the more sense it makes.

As precious metals prices start going back up so I can sell for a profit, I'm thinking I'll start consolidating my Canadian stocks
to those that are listed on both Canadian and U.S exchanges or just U.S., and get down to just 1 or 2 listed on Canadian only.

Opinion?

Makes since, except that in most cases the volume on the US exchanges is a fraction of what is on the Canadian exchanges. And only a small percentage of the minors area listed on the US exchanges. If a company trades on both exchanges and has enough trading volume in the US, I would buy it on the US markets. Low volume stocks can be a trap. Been there, done that. Beware of the volume trap.

Scottrade is now trading the Canadian exchanges on line. That makes it easier and cheaper. They have tacked "OF" or "GF" on to the end of the symbols. It stands for overseas financial and represents trades made on the international exchanges through thier on line trading. That symbol will show up on other sites as being an otc or pink sheet stock, but is not the same US pink sheet stock sold here if the company trades here. The volume numbers shown there are trades made through thier on line international trading and are NOT the actual volume numbers traded on the TSE or other exchanges, so don't let those numbers fool you. Anyways, that's what I got from their explanation of it all. Give them a call and see if you get the same answers I did.

I sold a lot of things recently and went back to about half cash. Should have done it sooner. I don't plan on riding them down again like last year. Bargin hunting is one thing but chasing prices downward makes as much sence to me as chasing them upwards. I'll let someone else find the bottom for me and catch that falling knife. Then I'll get back in.

You need to read Stewart Thomson, he's made millions "chasing prices downward".
His pyramid generators are sort of like perpetual motion machines, running 24-7, automatically buying at set increments on the way down, and selling at set increments on the way up, with little or no monitoring from him, and putting a steady stream of cash into his bank account.

He never worries about which direction a stock or the market is moving, because nobody knows what is going to happen tomorrow or next week, NOBODY.
You may call a move or a direction accurately once in a while, but in the long run you will miss more often than you hit. He never worries about a top or a bottom because it makes no difference to him ringing his cash register with profits.

I bought GDXJ at 3 different falling prices because I had no idea when it could turn and shoot up.
It closed at $22.93 Friday. I bought at around 24, 23, and 22.

I already have a profit if I had wanted to take it, my money back and enough to buy maybe 4-5 extra shares at a little lower price. A pyramid generator would have taken care of that for me automatically. I'm currently just half way following his plan, it takes a lot of $ to properly fund a pyramid generator for all the possible buy increments. I hope to be in that position some day.

It could easily open at $24+ Mon. a.m. and continue up for 2-3 months or more. In this scenario, your dodging of the falling knife cut you out of 3 bargain low point buys. You are left with the choices of either chasing the price or missing out altogether on a lot of profit.

It could easily open at $21 Mon a.m. and continue falling. In this scenario I will try my best to beg, steal, borrow, somehow scrape together some more $ and buy into an even better bargain. (Although my next buy could be Silvercorp instead of GDXJ, depends on prices and % of drop.)

I try not to worry (I try !) about how much I could have made and focus on how much profit I safely and semi-professionally made following this method, because like 99% of investors, I don't have a clue where the top or bottom will be, or when will be the best time to get in or get out of a stock.

Buy low, sell high. It's really quite simple when you stop and think about it.

"Buy low, sell high. It's really quite simple when you stop and think about it".



No PLOPS - check
Multiple entry price points - check
Wise stock choices - check
Buying weakness, selling into strength - check
No price chasing - check
Who cares where the market is going? I respond to PRICE - check


Hey....I'm impressed!!!!

By the sound of things here, it looks like everyone has learned their lessons well!! CLASS DISMISSED!!!!

I think what ST was talking about in "the mania phaze" is when your garbage man, your neighbor, and the clerk at the 7-11 finally get excited and jump on the band wagon, and start investing for the first time, and buying mining stocks, they will buy on the exchanges that they have heard of, NYSE, Amex.
Sort of a "Canadian stock exchange, what the hell is that?" mentality.

By the way, when you see this happening, that will be when you should start slowly and steadily selling off your mining stocks, and investing your profits somewhere else, because the bubble will be getting ready to burst.
When it happens, billions of $ will disappear in just a few days
Hopefully that's at least 2-5 years out, because there's still a lot of $ out there that I need to bring in.
Retirement is getting closer by the day, and social security isn't looking very healthy for the future, neither do most corporate retirement plans. I think we're on our own in that area.

You are very correct about the low volume, I've been there too, don't want to go back.

Silverhog, along with SVM (silvercorp), you may want to check out MVG (MAG Silvercorp). I think they are at a good buying point as well.

Chux03, friday may have been a turning point for the mining companies, bullion prices down/sideways and the mining companies were up 2-5% or higher across the board. With that, went out and bought around $300 worth of silver bullion on saturday. Wasn't able to get a trade in before closing bell, but I would have went with GDXJ, SVM, or MVG.

Buying bullion is ALWAYS a good idea, though this weekend with the spot down a couple of bucks near $15, it was an OUTSTANDING time to buy more silver. It doesn't matter what you really buy, shares or bullion. The idea on this weakness is to just BUY. Friday was kind of a weird day. The market started out down and then about mid morning the shift to the other side started off. Most shares finished the day up, I know GDXJ took off about 2 hours before market's close. Anyway, my guess is for the....correction to keep correcting. For awhile longer....

Yup, good thing I just bought the bullion instead of the shares friday, mining stocks were down across the board today 2-5% or so. GDXJ nearing $22. I imagine the sparing will continue, at least until Greece's debt issues are 'figured' out. Then on to the next of the PIIGS,P or S?

With the EURO falling, wouldn't gold eventually go back up with the increase in demand for gold? EU has more people than the U.S. if its' currency is falling, surely demand for gold is picking up. Some local dealers tell me if Gold goes below its' 200dma it'd be like buying at firesale prices.

I sold my $21.99 GDXJ shares at $23.35 for a $136 profit while I'm waiting for it to go lower like all the pundits are saying.
ST would not like that I am listening to pundits, not professional.
If it gets back to $22 or less I will buy it again. It's possible to make $ while waiting for the bottom, wherever that happens to be.

I was willing to forgo the potential greater profit later for a sure profit now because I have shares at the $23 and $24 range for the eventual run back to $29+, and because I didn't like not having any cash in my account.

Yes, if it goes straight up from here I will play the what if, I wish I had game, but in the long run, imo this method produces more profit with fewer losses.

You playing the what if, wish I had game yet? Dang, over 5% gain today, not bad at all. At least you are up. I should've bought SVM instead of the bullion over the weekend, oh well, like you, I'm still up.

Dang, would've have been a good buy early this morning in GDXJ. I think I'm gonna do some bullion searching again this weekend.

------------------------------------------------------------------------------------------------------------------------------------


GDXJ To 200


https://www.gracelandupdates.com/video/ ... xjf10.html

In this video is it simply buying up and buying down? Or does he include selling points up and down? I didn't catch it if he said.

No not yet. The odds say I did the smart thing % wise for the long run.

But if it goes straight up to $40 without dipping back down at least one more time, I'll probably short out my keyboard with my tears.

At least I still have my two other buy in points to sweat over and worry about.

This is a strange business, it's fun and agony at the same time.

I'm gonna go get the box of tissues for you now. Up over $25 now. Looking good. Dang HL, up over 7% today, nice. You have a sell at $25 or a buy?

My $23 Gdxj was up over $2 for a while, a $200 profit. Mr. Greed was whispering in my ear and I was holding out for the big kill so I didn't sell. Stewart Thomson would be very disappointed in my amateurish greed. You will come out ahead in the long run by abiding rigidly to his rules, buy on the way down, sell on the way up, don't worry about the tops and bottoms. I hope to be that professional eventually.

Some day if I have enough to fund one of his pyramid generators I won't have to worry about how long I should hold, or when I should buy. It will do it automatically without any thinking (screwing up) on my part.

Actually, to complete the story, I sold all my gdxj friday to fund my newly opened Interactive Brokers Roth account. I guess the application is sitting on a pencil pushers desk until he decides to check the approved box, and then I can rebuy the same stock again. Hopefully Monday a.m., unless it continues down, then I will buy in increments down until I run out of money or it reverses. Between my $23 and $24 stocks, and the loss I took from my original opening day purchase at $25.35, I ended up about $240 ahead. I guess thinking about doing my taxes put me in the mood. I like the idea of the tax free profits in a Roth when the gold juniors really take off.

A nice bonus, I found out that because it's before April 15, this counts as a 2009 funding. I can sell more stock and put the max allowed in again and have it count for 2010.

Last week a talking head on a business show was saying to cash out of your IRA now and roll it over into a Roth before the government has the chance to raise taxes to pay off this huge debt. I'll probably start that process next week with half of my IRA. I trust my chances of surviving and staying ahead of the coming inflation with gdxj and slw, and maybe find a couple other safe stocks, more than I trust what my IRA was invested in.

I've read in several places that taxes are scheduled to go up in Jan, so to expect most stocks to fall in Nov or Dec as people take profits at a lower tax rate.

Sounds like another exceptional buying/profit opportunity is headed our way.

I did get into GDXJ just around 25, if it drops near 24 give or take a few cents I'm going to double my position. Same if it goes down to 23.