Originally published by Chamber of Merchants
Here is my portfolio, which is now 100% in:
The Ramelius Resources Ltd (AX:RMS) trade has worked swimmingly thus far.
Blackham Resources Ltd (AX:BLK) was a reversal trade. Turns out the bulk of my orders were filled above 44c which now represents a 10% loss. I will give BLK the benefit of the doubt and wait for this bearish sentiment to leave the holder pool.
Once BLK’s underperformance is in the price (not sure if it’s going lower…) but once it’s in the price then it’s onwards and upwards for Blackham. Nobody wants it now, hence the discounted price.
I expect that a few weeks from now it won’t matter if entry was in the 30’s, 40’s or 50’s… ( My previous stop of .485 kicked me out and I re-entered at an average price of .447 (Could have made a lower entry…but oh well. An extra parcel today would have been ideal, but big picture gets me through that disappointment.) (I previously sold BLK 57c+ in January, so no biggie.)
Nothing to report:
Literally, I have had nothing to report on or rave about. Gurus left, right and centre seem to be throwing darts as to what the future holds. Some will be right by luck and some won’t.
I’ve capitalised on low entry opportunities for my preferred gold miners, not knowing for certain what the future holds. Therefore my short term trading is now at an end until the next spike in gold miners prices.
That could be days or months away.
Who knows.
What I do know is that the entry prices I have seized have reduced my risk to the downside and given me plenty of upside opportunity.
As I mentioned previously, trade your stock’s support and resistance. This is far better than trading the gold price which is taking on a life of its own.
(Is it safe haven buying? Is it the yen? Is it bonds? Is it the coming stock market correction?)
Speaking of which, if the stock market corrects, gold will spike. Once the correction is over it would be a good time to take profit on the gold sector as the panic subsides.)
If you want to know something, let me know.
Otherwise, I really have nothing to report at this stage.
Think Better. Trade Better.
“Get into rhythm” – a shout out to D.Liew
Faithfully
|the Merchant