Stock Market Commentary by full-time trader and best selling author Bob Kudla AKA "BobLovesHawaii"
Bob, I'm not sure why you wouldn't just buy an initial position in AGQ today in the 93s instead of waiting for the 95.50 - 60 level. Maybe I'm missing or misunderstanding something in your post? I myself am chicken to enter just yet as I'm afraid that an impending market correction could take AGQ down with it. I stayed in the last position from 58 until 103, but after such a ballistic run, I'm hesitant to jump back in too quickly. I need my hand held :)
Great question. I already hold alot of miners, but I want to clear that big volume area and to ensure we are uptrending again, before buying. These levered stocks can kill you in a chop.
I am holding a lot of miners as well, Bob. Your point about the potential danger of AGQ makes sense. I'll be watching your blog (or your comments on Brinks' blog) just to see how this AGQ entry plays out. I hope you don't mind my following your entry. Like I said, I'm relatively hesitant after such nice profits from the ballistic run:)