What are your thoughts for the short term metals Market
I'm curious as to what everyone thoughts are on the short-term metamarket. Clearly this is not any financial advice and more of a ramblings of someone who finds himself in a position and I am unclear what to do. While I think gold and silver are always great to hold 99.9% of my holdings are physical. I allow myself to trade the paper markets in some retirement accounts that otherwise don't have exposure, and I feel it's one that I enjoy watching and like to dabble around in training.
One of a few tickers I allow my self to speculate on
I will allow myself to trade 5 to 10 different stock symbols depending on how much I'm following them, and if I think I see something that is an overreaction in the market. I typically look to get a 10% gain on the money and then I am happy to let it sit for up to another year before I trade again. If I make 10% in a month then that money has made its return for the year and does not need to be deployed. If it does get redeployed that's fine, but there's no pressure to always be training
Current position
This is my current position. I jumped in to the market and executed at $19.29. I did so based on a feeling that it was oversold with an RSI level below 30 and it was likely to rebound although I was unsure of how much it would rebound. Even if it was down for a long period of time this is one of those positions I am very comfortable holding long-term to balance my portfolio
After riding the roller coaster of being up 10% to then losing much of that only four days ago to being only up 5%, I find myself with four days of shocking volatility with a price moved from 20.20 to 21.76. the last four days have moved so much so quickly I'm a little baffled by the whole situation
Failing to follow my typical plan
- 10% gainer to exit
My typical plan is to buy into position and I will sell when it's a greater than a 10% profit. That way the money made to return I want for a 12-month period and doesn't need to be redeployed. If it does get redeployed that's fine but it's a way for me to feel comfortable and not have to be overly active in trading. If you can make two trades a year that's great you made 20%, but even if you only make one then you're still getting a 10% returning your money and you're doing pretty well
- Volatility has me baffled.
The amount that it's moved in the last 4 days is wild from the low to high point it has flexed 10% alone in the past four days. That's peak to trough and not total gain. I think the high was around $22.06 and might be an indication of where it opens tomorrow. The other hard thing to factor is if there are excessively large options expiring that need to get pushed out of the money so that the infamous manipulators cannot get punished
Holding through the holiday?
If the price holds then I'm fearful of holding this position through the holidays. Well normally I wouldn't care I am starting to feel the pressure to sell into lock into profit and not get greedy hoping to get a 20 or 30% bag
Again this is not financial advice, I clearly have no idea what doing, these are just late night ramblings from a random person on the internet.