Hey guys i have taken a different approach this year than usual. I'm normally a f.a but so far this year have combined t.a with a bit of f.a and so far so good.But this is only a small portion of my funds as i still hold some quality blue chips.Nonetheless blr is on my spec list and for all the right reasons i might add; as well and probably next out of the blocks for a crack at .079 and my quick reasoning behind this is cash level approx 5 million and charts to me are setup nicely after the early January run at .079 and a retracement back to low 6's late 5's. If .079 is broken this time around then i think 10.5 is a strong possibility and only up from there as 34.5 is the ultimate target on the 5 year charts.
If u look at most specs over the past few months many are starting the trend up; so in saying this i don't want to miss the train this time and have these stocks shoot up say 50% or 100% and i miss out.I'm in with a small amount and very small compared to my bigger holdings.
Anyhow excellent start so far this year with the specs and hoping my strategy continues to pay off.Some winners include mls,pen,plv(small profit) and hopefully give it some time one might think the day traders will take some profits off the table on the other spec stocks who have had a big run up and most likely do the same with blr if they fall behind.
Probably take a different approach to most on here but just as long as management tick the boxes and cash level ok and chart remains in uptrend then this is ok for me.Don't mind management spin just as long as market agrees that's all and they don't burn cash to fast.
cheers all and good luck with this one.Should be a good year all around for the specs.Happy trading/investing.
p.s. I'm having fun so far this year so don't spoil it for me ok!! (lol..)
take care all...
BLR Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
