Hi Guys!

I think if gold and silver were not down sharply on the day and on the week, that KXL would have gotten more mileage out of this round of news, and that we probably would have taken out $5. However, it now looks like we just ran into the same resistance that held the stock up the last time it gapped higher last month. And that run was quietly whittled down over the next few sessions in the delay between news. So I reluctantly sold my traders off today at $4.10 and now am riding my core position again. I have a bid in to buy the traders back at $3.60 if the gap is filled, and I still have a stink bid in around $3.06 which is probably just wishfull thinking.

KXL could very well go higher next week and not look back. We may hear more good news. Or gold and silver may turn sharply higher and drag the sector back up. I do not mind, since I maintain the core position and very much want to see $5-plus. If so, I would look for another interval to add the traders again, and just repeat the process. But if we get a retracement, I will reload and keep the profits from the trade today.

Sorry if people find this personal trading strategy boring, and if I hear feedback to that effect, I will not post further on the subject. But if I am going to be the loudmouth about the need to be proactive, I at least want to share the trades in detail with the forum, in real time, to back up my statements, and people can decide for themselves if it is a viable strategy, or just a bunch of hot air.

There are going to be a lot of ways to make money on KXL, and those that just buy and hold with patience will do just fine. If you're an investor and try to play at trading you will probably get burned. If you a trader and pretend to be an investor it will probably not work out either. Have a strategy and stick to it, so you manage the risk and remain leveraged to win.

I am on a bird to Reno for my conference tomorrow and will not be online much for a few days. Good luck to all...

mike