Tuesday, March 1, 2011

RBY and MCP hit my buy screen

An approach I have been taking with some fantastic results is to buy calls on miners that hit my version of the Elders impulse pattern buy trigger.  Yesterday GOLD hit it, today RBY, AEM, and MCP hit it.

I buy one strike up and one month out, set a stop and let it rip.  Move to break even as practical and then manage to your profit and risk tolerance. April 5 (ITM, low price stock), April 75 (I am already in it for March, and will roll to April), and April 50.

My view is the gold miners need to play catch up.  Enjoy.

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