Diary of A Day Trader© : April 14, 2011 "You've Got the Silver, You've Got the Gold"
It's days like these when you start feeling the way Mick Jagger looks. Kinda old and weathered. The market had a gnarly open, with the bulls recently drawing even with the bears at the mid-day mark. But few issues are flowing with anywhere near the momentum of earlier this month.
I just had to say farewell to one of my children and take a loss. That cruel mistress, Viking Systems, Inc. (OTC:VKNG) simply refuses to catch fire, and I'm just not patient enough to wait for the next spark. In at .30. Out at .26. I hate when that happens!
Right now, the open market price of silver and gold are prospecting higher, but most precious metal stocks are sitting there like stuck pigs. That said, I've placed some of my day's fortunes squarely in the hands of Great Panther Silver (GPL). This one's an up-and-comer, and though weighted down by a recent secondary offering, I'm expecting GPL's share price to accelerate -- as long as metal market conditions remain so freakingly bullish.
I'm still swinging my SNAP Interactive (STVI) and contninue to nurse along a position in LFVN, which actually has surprisingly decent fundamentals and may be ready to assault the $1 mark. I also opened up a position in FEEC, the Chinese gas company partially owned by George Soros. I'm hoping it's put in a bottom at the .40 cent mark. Selling has been relentless in this puppy.
Speaking of puppies, we were reunited with our family Golden Retriever, Donut, who turned 8 during our vacation. Now our house is super hairy again, just like today's whipsaw market action.
Good luck at the equity betting windows!
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