The Golden Sunrise
The essential morning read for investors!
Golden Sunrise is the Golden Surveyor’s broad-based market and world view.
Written daily 4am-7am by markets information specialist GS John
Today’s Golden Sunrise
Thursday, May 13, 2010
Hours of daily research consolidated for you
Don’t you hate taking profits?
Gold via the GLD:
Gold is up about $80 since last Thursday. Silver is up over $2 an ounce which is a quick jump over 10%. The trades I put on the last few days popped very nicely so I sold most of the shares at a nice profit.
This is a problem?
Yes-I think gold and silver and the shares I bought are going a LOT higher. I want to own them. When you sell them, you now move to the opposite side of the spectrum and want them to come down so you can buy them back.
When you sell into that kind of strength, you are faced with the anxiety that you sold too early, that you are not going to max the margins, that you were a big dummy doing big dummy things (again).
You now have to make decisions again on how to deploy the capital. In reality, you are buying your positions every second you hold them on an ongoing basis but when a trade is working you get to enjoy it and watch the balance the get bigger and call yourself Mr. Market Shrewdguy. When you sell, you go back to being one of the seagulls fighting for fishheads down on the polluted shoreline.
You now have to set up another trade and reimpose discipline on yourself to follow your trade parameters.
All that said, there ARE worse problems. And you have proven to yourself that you do have the discipline, that you did make some good decisions and you now have capital to deploy again for the opportunities that present themselves.
There are worse problems than taking profits.
JohnR
Goldensurveyor.com
