Positions updates

[Sean K]

Over the past week:

EXM - added some at .036, will add more on break through .04. My target .05.

BMN - Added a few at 3.35. Will add more on any pullback. TSX listing, U appreciating, and next JORC should provide support.

BPT - sold all at 2% loss - was getting bored. Oil stocks not around all time highs should be shot.

HLX - missed opportunity to take some profits in mid 50s because I was out on the turps.

KMN - woof. Added more last week, will add again on break up, if that ever happens.

MAKO - thinking of adding MAK with fe aeromagnetics being flown this month.

LGL - consolidating even though POG is flying - expecting pullback shortly. Will add more on likely gold correction.

NCM - failing at $34, needs a takeover rumour, or will fall back to $30 ish. Will add more on likely good correction.

NWE - consolidating above support, looks like it might move up again. Just holding. Target .38 ish. Oil due for pullback...

 

[prawn_86]

Do you trade NCM on a margin or CFD kennas? As 140% profit you would have been hodling for ages!

 

[Sean K]

I short term trade with CFDs but rarely hold long term. I buy with a price target and a stop and stick with that.

I first bought NCM at $12 in 2004 and have been buying and selling since.

 

[Sean K]

BMN approaching $4.00 now, after significant break.

Damn! I didn't get the chance to pick up more on a pull back which I expected.

My largest holding ever right now, but maybe the US will still be crunched to provide another opportunity.

 

[vishalt]

you must be making a killing with NCM, im scared to touch gold lol

 

[Sean K]

Not as much as I would like. I've hardly added to my position since the breakout because I was waiting for the world to implode from the credit crunch.

I suppose I could have bought in with a stop, but I'm thinking POGs got another couple of years to push higher until the USD recovers....(if recovers)

There's gotta be a POG correction soon, when I will add some more.

 

[Sean K]

Target from a break up is around 21 cents.

 

[Sean K]

I'm going to buy into any weakness now. Good opportunity today, and some more to follow perhaps. $3.50 looks like good support.


2 days later chart, see note below.

 

[Sean K]

Looks to be breaking down. Will add to position if it keeps tumbling... I expect the next support to be hit, but not sure if it will hold.

 

[Sean K]

Opened 4 sell contracts and have bought a couple back for a few $$ gain. Leaving 2 open for the moment for hedging. If overseas tanks tonight, may reopen a couple more sells.

 

[prawn_86]

I find that our market tends to gap down and then hold steady around that level if the DOW has a big sell off.

Its the futures where the $ can be made as they tend to track the DOW when its open.

 

[Sean K]

Opened more sells on the index. Looks to be breaking down. If it recovers I expect LGL/NCM to save my bacon.

 

[Sean K]

Bought back some positions to make some beer money and now looking at longer term sells.

I think 6450 is a a high possibilty, and if not, gold is paying for the rum..

If 6450 is cracked then 6200 looks good.

 

[prawn_86]

 

[Sean K]

I left one contract open without a stop. 120 points....LOL

 

[Sean K]

Is due for a spike, if history repeats, which it seems to have been doing the past few months...

 

[Sean K]

Tipped in for a few today.

I see the struggle for RIO to provide some support for this, plus gold is just running and running away.

Not a short term trade for me but medium term investment.

I'll probably just top up on pull back to support levels at $4.00 and $3.70, if it goes that way.

 

[moneymajix]

I would like to see more than 5c for EXM.
Had a dream last night that they had tonnes of gold!

 

[Sean K]

LOL. 5 cents will be a 25% ish gain. My plan would be to sell a few at that point, depending on news and the overall market. I'll probablly buy more on break through 4 cents. Not holding too many really. It's pretty spec for a spec!

 

[Sean K]

CUL dropped to .11 and finished at .115 breaking just out of that formation. Probably not on the cards now. Will review daily.