Trying to carve its own path?..From a weekly perspective, a...

Trying to carve its own path?.

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From a weekly perspective, a great week. Last week 1.5, this week 2.2. Close to 50% gain. Nothing to complain.

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So what is happening? We got a very good announcement. Except that we are WA, rest all is great. But things could change one day. And many punters are realising that. That is the reason we made that gains. Because if that happens, gains will be much higher.

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Personally I was buying for last few weeks when CXU was not loved, and I had been writing about. Today I let go some of them, mostly at 2.2. My buy average was 1.7, so thought will lock in something, in case. And I did that with many other U stocks today/yesterday, so nothing different. My usual play - if medium term its looking to go high, then I will buy back, happy to buy higher, as I only sell around 35% so my rest goes up. If it goes down, I have some coins to buy back without increasing holdings. reason I sold some yesterday was my thinking that US U stocks will consolidate. I let go around 35% of my U stocks in last couple of days. I love to trade. I like to play the ups and downs, many times not profitable, if we are in an uptrend. But my habits are bad.

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So what may happen next week? All depends on CCJ. It has had 4 greens on a row. Yesterday, on another thread, I wrote that maybe CCJ will pull back, do the necessary consolidation. But it was not in the mood. Instead let ASX U stocks do the dirty work - consolidation. So not an unusual play today, only difference was I thought it will be initiated by US stocks rather than ASX stocks. But perfect play till now. Many stocks had risen 20 to 30% from its lows. It needed a consolidation. We got one. Now all depends on what US stocks have in mind. CCJ needs to hold 39/40 level. For a big/new highs, it needs to get over 45. That may not happen tonight. If it holds 39/40 level, we are doing good. I believe we may hold. But I will not be surprised if there is a small dip. Reason being if stocks don't consolidate, they fall big as well. so we want them to consolidate, then make next moves. But if CCJ is on rampage, we will accept it. Lets hope it happens that way. Enjoy your weekend and all the best.