I saw that also. Please comment Randy.

Wow it’s been ripping.

This one rose 26% this morning so far.

thx for the info!!

Thank you. I need to start using Volume as anther tool.

One word: Liquidity. CGA is a thinly traded stock, trading an average of about 80k shares over the past 90-days. Keep in mind that avg. was considerably lower until recently as CGA had some massive volume spikes today & on Dec 18th. In fact, it is not unusual to see the stock trade under 5k shares per day. At a stock price running around $2-$3 recently, that $10-$15k of shares bought & sold on some days.

The lower the volume on a stock, the more the price is affected by increases in buying & selling pressure. When trading thinly traded stocks, best to use limit orders over market orders (or the adaptive algo orders offered by Interactive Brokers & maybe some others). Also, adjust your position size down to account for the above-average gain & loss potential. Congrats on those previous trades & sorry to hear you sold CGA too early today. Looks like a solid break or close above 3.10 should open the door for a move to the next target around $4 in CGA. So far, just a few brief spikes above that level without any follow-thru buying.

To the best of my knowledge (and you might want to verify this), the K-1’s are a typically a non-event for IRA’s unless you have received distributions of over $1k for the year. Maybe not but I’ve always just disregarded when received for my IRA-type accounts but then again, I never had any significant distributions reported on those K-1’s as I’m usually in & out within a few months. Some brokers, such as Interactive Brokers, recently stopped allowing the purchase of ETN’s in qualified plans (retirement accounts) & for the most part, I usually prefer using futures contracts over commodity tracking ETNs to trade commodities, especially in IRAs since I can short futures contracts as well as go long, taking advantage of the leverage to boot (IRA’s don’t allow for shorting of stocks, ETFs, or ETNs, only futures).

Here’s an answer to the IRA K-1 question that meshes with what I’ve heard:

Actually, you do, or rather the custodian of the IRA does, in some cases.

If you hold a Limited Partnership or LLC in your IRA then any Unrelated Business Income in excess of $1,000 is taxable (even though it is in an IRA). It is not reported on your tax return but on a 990-T form. (The custodian of your IRA is required to file the form for you but you must submit the K-1 form(s) to them – ask the custodian about this).

Unrelated Business Income is reported as code “V” in box 20 on the K-1 form.

Also see pub 598.
http://www.irs.gov/publications/p598/ch01.html

Most custodians will send a letter to IRA holders that have such investments informing then what to do of they receive such a K-1 (I know Schwab does since I receive the letter every year).

Unless there is more than $1,000 of unrelated business income total from all such K-1’s, you can ignore it/them).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

I haven’t posted any updates on the silver miners recently although I’ve shared my thoughts on gold, silver, & the mining stocks in recently. Basically, I remain longer-term bullish but both near & intermediate-term the odds for a correction are elevated due to the potentially bullish technical posture/setup in the US Dollar & bearish setup in the Euro.

If that bullish setup in the US Dollar plays out for a significant rally in the $USD soon, that will likely put pressure on the metals & miners. Basically, I’m near-term neutral on the metals at this time & unclear on where they are heading in the coming weeks. That bullish setup on the $USD may not pan out for a rally & even if it does, it is possible, although unlikely, that the metals & miners can continue to move higher. Nothing wrong with staying long those silver miners & trailing or periodically raising stops as long as they remain in an uptrend.

BTW today I sold CGA for $2.64 approximately 10 seconds before it started taking off, missed a huge gain.

I have a question regarding trading certain funds such UNG, USO, DBA, etc. I understand you have to deal with a form K-1 for tax reasons, which is a pain. Does anyone know, if you trade vehicles such as these in a Roth or regular IRA, do you still have to fill this form out or does that requirement go away? Thx for any info.