[pcabc]

Whilst considering RIC early this morming and discovering I'd missed the ideal entry point owing to a delay in the data I thought that SPGP.L (gold producers ETF) looked good. It had broken out against recent resistance around 4.25. Owing to resistance at 4.5 from October I decided to hold off until it broke above that level. Likely a valid view. However, today it has gapped up closing at 4.75. Unfortunately buy stops are not available to me, a buy stop at 4.6 would have otherwise been logical.

Just considering putting in an order, it is now higher than I would have liked but this is a sector ETF not an individual stock and it is clear that interesting things are happening in this sector. Thinking either of investor stop loss at 3.75 or trader stops at 4.1 or 4.2. Bit wary that the trader stops are rather tight so I am likely to get stopped out due to present volatility. It is otherwise a turbulent time. Also worth considering that there are few LSE listed miners and I can only use stop losses on LSE listed stocks icluding the ETF.

Note that today's data point is only the close.