Maybe this will help understand why I did what I did.
If you understand how the 4 wave structure in gold works you will understand why I want to take some profits out of the C-wave. If I hold on to a winner it will just get dragged down by the extended corrective process after the C-wave tops and will turn into a loser and then it will be dead money for many months as the next C-wave builds a base.
If I have some dry powder then I can put that powder to work in the A-wave advance, which while it won't make new highs could still be good for a 40-50% gain in a stock like SLW as long as I get in close to the bottom of the A-wave, which isn't too hard to do if one watches the COT report. That's a much better use of my capital than just watching one of my winners bump around for months.
2 months ago