Positions updates

[Sean K]

Fundamentally speculative on the charts.

This is very spec Snake and I have no confidence in it doing anything really. Just throwing a few $ at what is a high risk/high return opportunity.

Historic grades at Tennant Creek are obscenely high. 100++ g/t common at the Juno deposit, up to 35m width.

I think the company is targetting 2m + oz au with the drilling to start end of month. If they get similar grades, this will be one of the richest finds in the country.

So, 'fundamentally', if they come out with an ann stating 10m+ ish at anything over 100 g/t, I'd expect them to spike a tad with gold going ok. This is really what I'm in for now.

I didn't want to get in till I saw uptrend continue which meant 3 cents had to be broken. Should be good support there now, more at 2,8 ish. If it doesn't hold above that, then something may be wrong with the program...

Still super spec and any company that has changed it's name four times is a concern to me....so, I haven't put the house on it.....I am watching volume and price action closely however to buy more. Probably next step for me will be to buy more on rise above .036 and .04.

 

[Sean K]

Considering buying this on potential break up through $1.50, stop under $1.43 ish.

Inverse H&S set up

 

[Sean K]

Just clinging on to 30.

Holding for Yalleen results.....

Come on AQA! Strike while the iron's hot!!!

 

[Sean K]

Perhaps consolidation over between $730-740, now breaking $750. Looking to add to NCM on break, maybe a shorter term CFD chart trade. Should be good to break all time highs with POG running like this.

 

[moneymajix]

October has been hot.

 

[Sean K]

Broken through. Buying a few with initial stop at $1.45. Market's looking toppy to me!

 

[Sean K]

BPT breakout through $1.50, stop $1.45.

HLX due for drilling results and FS from AQA at Yalleen. With fe going bananas I expect a good ann to provide plenty of interest.

NWE broke back through 30, should now be support.


Having done this, concerned with market excitement to pretty lame anns right now. Seems there's a lot of money trying to find a home with weak funnymenatals. Expecting correction, but with these stocks running just have to be in...

 

[Sean K]

Cracking all time highs over $4.20.

Enjoying this.

While it lasts!!

I should be locking in some profits, but I'm human.

LOL

 

[Sean K]

Spoke to HLX last night and have confirmed AQA not due to produce JORC till Q2 08. Why was I thinking it was imminent?

With other comparable iron ore companies having MCs blasting through $100m, I think I'm going to hold.

 

[Sean K]

Was delivered my cheap rights issue the past 2 days and thought I'd top up a few more as well.

Holding above $27.00 well, looking for new break through ATM $29.50..

I've been waiting for a major gold correction to top up LGL and NCM but where the hell is it??!!

Will only top up on any further correction in POG.

 

[Sean K]

In the last week:

**Topped up a few HLX, NWE and NCM
**Received rights issue from NCM (7 for 20 @ $17.40)
**Received HLX free bonus options (1 for 8)
**Redeemed all units in Platinum International Fund
**Ceased regular investment in Hunter Hall VGT

Comming up:

**Will look at more HLX on break through 35
**Watching KMN very closely for turn around at which time I will buy more. Looking for higher lows and break through 70. As much as I love the funnymentals, the market doesn't seem to. Concerning.
**Need to work out a plan for BPT. Seems to have broken out well, but not sure if this is just a chart trade or long term hold for the funnys. Not really sure what the funnys are yet. I think it's an oil company. :

 

[moneymajix]

Did you buy more EXM?

 

[Sean K]

Yes, but I think that was the last update. Topped up on 10 Oct. Ave price .033.

 

[Gurgler]

Sean

So, following the 2.6% drop on the DJIA how would you see the plan changing - if at al?

Do you allow all stops to be taken out and top up on stoacks when sp's settle?

Or are there some of these positions that you soldier through with?

Greg

 

[Sean K]

Greg, I have reduced my stock holdings from about 50 to the current 10 which will allow me to move fast if required. Except for EXM and maybe BPT, these are longer term positions that I am sure will do OK in the long run. I'm in a position where I do not need an income from the market, so I can wait. I'm going to watch the open tomorrow and may short the index to hedge, and/or take advantage of a knee jerk. I will also look to buy more of any of my current holdings depending....

I think housing/credit crunch is largely factored in at the moment and I think the damage is ring fenced around the financial services sector associated with sub prime. I also think BRIC is NOT entirely factored in and is going to drive the Australian economy for another 10+ years. This is a long term perspective.

On the other hand, the Western consumerist psych is troubling and may end in great disaster....

I may be wrong.

 

[Sean K]

I topped up some NCM last week on what I thought was a break up which would have a probably ta target of about $34.00. Unfortunately, I was gazzumped by the 2.6% slide in the US. However, break still looks highly probable. With POG holding and DOW up tonight I will be adding more tomorrow.

HLX reached my ahort term t/a target of 45 cents yesterday and I now expect consolidation between here and break up level around 35/36 cents. I'll be looking to top up further on any weakness.

 

[Sean K]

I may be out tomorrow.

 

[Sean K]

NWE failing badly at 30 due to panic selling of AED on waht's deemed to be a bad ann. Should be more support around 25, so holding to see how it goes.

 

[Sean K]

These two are powering along due to POG running away.

I reckon they'll both be getting out of reach of a big goldie shortly with their MCs surging....

If someone had have really wanted them perhaps that should have been done a couple of months ago...

 

[Sean K]

Futures up over $10, cracking $780.

Should be a nice day for these two Monday after breaking all time highs on Friday.

Must have a consolidation period shortly.

Pending major market corrections it looks like POG is just going to keep running.

Read one commentator on Kitco saying that we'd see a $100 jump day in gold shortly. Golly.

I haven't added anymore LGL for a while and have been waiting for a decent correction to do so...