Since my last trade of March 28 I have been in a trading hiatus. This was because I felt there is an excellent potential profit opportunity in gold and silver mining stocks at this time, especially silver. Therefore I had committed all my cash balance to precious metals mining stocks which left me with no cash balance that I would need to protect myself from potential losses from trading.
Yesterdays I was happily surprised to see one of my mining stocks up 24% in one day, NICE!. That more than doubled the value of the stock and allowed me to sell half of my position, recouping my entire investment in that stock. This now gives me a large enough cash balance so that I can resume trading the 74% Solution trading system.
While I have been out of the market since March 28, The 74% Solution trading system generated 25 trades, 23 winners and only 2 losers.
As of today IWM is setting up for a potential trade for tomorrow, if that trade is confirmed I am back in business again.