Made my first Sale
Today I sold off my huge position in Silver Wheaton (SLW) at $10.65. I bought in early January at $9.00, so after transaction costs my return was around 16%. I feel like this stock may still move higher but I sold for 2 reasons:
1. I really feel like the bottom is going to fall out of the market at some point in the near to intermediate future and the last 4% correction showed me that precious metals stocks aren't going to be insulated from any decline, so I wanted to take some profit.
2. I have watched this stock and seen it test these levels many times, and it has always fallen back once it gets near $11. I may jump back in if it goes below $10, but I'll wait and see.
1. I really feel like the bottom is going to fall out of the market at some point in the near to intermediate future and the last 4% correction showed me that precious metals stocks aren't going to be insulated from any decline, so I wanted to take some profit.
2. I have watched this stock and seen it test these levels many times, and it has always fallen back once it gets near $11. I may jump back in if it goes below $10, but I'll wait and see.
posted by Mr. Apple at 3:21 PM
1 Comments:
What taxes to Canadian such as yourself pay on capital gains? (Same as the US?) -Jon Tyson
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