Hi Watsom1. That last puff up on price I got to scared and took...

Hi Watsom1. That last puff up on price I got to scared and took profit. I got into MHC twice, so I'm pretty happy. I'm trying to make sure I only risk 1% of my capital on trades and MHC grew to a decent profit that it was hard to ignore if it suddenly took a drop.

When the volume is up and price push up (accumulation) twice! What you don't want to see in the coming days after that occurs is price drop with large volumes. We aren't seeing that, which is great. So if volum and price is stabilising around the same area we are seeing consolidation before the next movement.

I still reckon this has another decent push up before maybe a small puff and a level off or decline.

Im planning to reenter if it breaks 3.2 with a tight stop. News will be the catalyst. I think that dip towards 3.3 was retailer's getting in to early. I feely we can range between 2.8 to 3.1 here for a lil bit

Having tried to invest and trade both unsuccessfully and successfully over the last 6-7 years (and not blowing up my account), a big lesson I've learnt is to use stop losses and protect your capital. I've also found that it helps stop you being paralyzed in being unable to decide on whether to hold or sell.

Im a firm believer in gold stocks to trade or invest, whatever your decision is in that front, but I try to keep to things in my mind.
1. There is always a difference between exploring and mining and when one is transitioning to a mining company that takes years, effort and money.
2. When JORC statements come out for gold. That is essentially how much cash they have in the ground, which dictates the Market cap. You can semi estimate it from drill results to give a ball park estimate. Go check out a member call Wombat on the NVA page, check out his analysis posts, it's a good start.

also final note, always do your own research. These are just my thoughts and the worst that I've found is that you read something and it can influence you (avoid motley fool and other HC crap posts, the ignore button is a great function). Be the independent investor or trader you want to me.

sorry, for the rambles, I think I'm getting cabin fever in Melbourne.