Stopped out of another couple today. The protection strategy is working well with the portfolio only down 4% from the highs.
Now approximately 40% cash.
Interesting how few ticks you get when calling the top of a cycle. Bearer of bad news, shoot the messenger?
telamelo, I agree with your confidence.
A good number of gold stocks have similar charts but not as news productive, therefore recently hit harder.
Stopped out at on BC8 at 39c and took my 17% profit.
A re-entry when the sector turns up unless BC8 breaks out in the short term. There are always outliers when the sector pulls back.
Apart from sentiment plunging, this is why BC8 struggles to move higher. Resistance and consolidation.
My short term chart. Not worried about a trend breakdown here.
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The longer term chart dictates my trading strategy. Currently touching support.
Trend here needs to hold as sentiment bottoms.
Already had the breakout and a target price of 68c is priced in.
While I don't wish it for holders, buying back in at 34c would be ideal. Will take 37.5c based on the chart above if the time is right.
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More than 37% of gold stocks now have target prices. A few more still in the process of being set.
29% of gold stocks are in uptrends though a few could be taken out in the current cycle and targets reset.
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Skol hasn't got TA, a clue or strategy.
The next cycle should be magnificent.
Will only be buying stocks with targets and a rising trend. I anticipate BC8 will be one of those.
