Markets update/ Silver Wheaton update

November 2, 2012:
Both gold and silver were hit with big sells today. As I write this, gold is down $39.00 and silver is down $1.36, both substantial moves down and the biggest moves down in some months.  So of course Silver Wheaton, which sells silver, is down.

As of November 2nd, the stock has fallen back into its handle, not a good sign.  I give it a 50/50 chance of breaking out higher.

The important thing is that I have my stop loss in place, and there is nothing for me to do now.  I can only watch how the stock moves.  While I won’t be happy if it hits my sell stop and gives me a loss, I remain unaffected emotionally.  I’m not checking the stock every 5 minutes – that will tend to increase my emotional attachment to this purchase, and that will cause me to question the whole reason I bought the stock.

 

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