Profits Are Rolling and Rolling and Rolling...

A great day of profit from yesterday's leftover trades. The silver market is losing steam over the short term, due to the high price since yesterday after silver almost reaching a high of 13.8500. Basically from what I can see from the market today, it's a NO-GO for the silver market anymore, it's losing momentum from the high prices it's reached yesterday and I personally will not trigger any more trades at this level, not until I see a decent retracement. I'm expecting a retracement of price until 13.5500 or slightly lower but nothing significant like 13.3000. If it really happens at 13.3000. Then get your trades ready and start buying like there's no tomorrow! Low prices will trigger investors and traders support in the commodity market. I'm very very sure of it. It's after all still within the commodity boom period. I'm still maintaining my forecast for silver to reach USD 14 by the end of February.

I closed all my trades today as a safety measure because I'm predicting that the market will have a small retracement on Thursday market. I've added another trade today after there were signs in silver market that shows one-last-ride before a retracement.

My trades are as below:

470 units of silver @13.5950
490 units of silver @ 13.7000

and additional 300 units of silver @ 13.6730 that were taken today

All of my trades were closed with profit totaling up to USD 64 (rounded down) today. As till the current date from January 24, 2007 with starting capital of USD 1000. I've made 41.8% profit which I think is a great result for my strategy in commodity trading. I'm expecting to make at least 50% overall profit by end of February and my aim is 75%.

Happy Trading Everyone and remember to email me or leave your comments if you like this blog. Thanks!!