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Monday, May 9, 2011

My trade in First Majestic Silver Corp (FR)

I did not write about it this last Friday, but this last Friday, I had buy 150 stocks of First Majectic Silver Corp (FR) at 17.96$ and 17.95$. My goal was to do another quick sell and sell and make a small profit like I did previously with Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) (I made a 60$ profit in one day by trading HZD and was very happy about it!).

Following my Friday purchase of First Majectic Silver Corp (FR), I place a sell order at 18.51$. The sell did not happen on Friday. So I spend all weekend long thinking of what I had did. I taught of Eric Sprott who had sell part of his own silver to reinvest in silver producer companies. And I came to the conclusion that my move was a good one. Also, I read articles saying that silver companies will do well despite an anticipated silver crash value. So there again, it was another confirmation. I did some search on First Majectic Silver Corp (FR) and I find the company a perfect fit for my portfolio. FR is not a dividend payer, but my goal with this investment was clear: a quick buy and sell.

This morning I wake up late as I suffering from a little pain coming from also an anticipated event lol. The first thing I do in the morning is opening my laptop, log in to my broker account... And this morning, I had a huge surprised, my sell order work out, I had sell 100 stocks of First Majectic Silver Corp (FR) at 18.64$ and 50 other at 18.62$. Currently, First Majectic Silver Corp (FR) is at 18.84$. I am happy because I made a quick 81.51$ profit after commission.

Sorry not to inform you before, but at this time, First Majectic Silver Corp (FR) is still hot.


NeilM said...

Good post - hope you can keep it up.

Do you see yourself becoming more speculative, rather than staying with the DRIP - slow and steady sure way to build weath?


Sunny said...

Hi NeilM,

I am staying with the DRIP I have. It's just I was willing to do a few trades for the fun of it. I invest in stuff that potentially has good chance to grow. So it's speculation, yes, but a calculated one.


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