Eoin Treacy's view

One of the most commonly asked questions by subscribers is how to find details of my open traders. To make it easier I will simply repost the latest summary daily until there is a change.

I have been saying for months that I have purchase orders below the market in gold and silver. The first of these was triggered today in gold. I was filled at $1702.3 including spread-bet dealing costs. My original positions were opened in Q4 2020 at $1879.2 and $1818.6. That reduces by average purchase price to $1800.

I still have additional bids in the market below prevailing prices in gold and silver and will leave them in place to take advantage of any possible additional volatility.  These are leveraged trading positions rather than medium to long-term investments. With baby steps trading one has to have high conviction prices will recover and the patience to buy to on weakness before eventually being proved right; hopefully. At present profits from my earlier crypto trades are funding my recalcitrant precious metals positions.

I bought back into both bitcoin and ethereum last Friday (August 6th) paying $42427 and $2866 respectively.

I also continue to hold my short in the S&P500 at 4391.63 for a September contract opened on August 2nd. I regard this is a hedge short position.

My platinum longs were purchased at $1072 and $885. I also continue to hold my silver trading position, initiated at $23.7. I will buy more if the current reaction deepens.

Among my investments, my original position in the VanEck Vectors Gold Miners ETF was purchased on March 25th at $20.12. I bought another unit at $35.79 on December 1st. I continue to shop for opportunities in the gold sector.

My two investment positions in Rolls Royce were purchased at 154.75 and 105p respectively. I also took up the rights issue which has resulted in an average purchase price of 54.63p. Rolls Royce has not participated in the stock market rebound of late and continues to form a first step above the Type-2 base formation.