Hey MD - being cool has never been high on my radar, so happy to...

Hey MD - being cool has never been high on my radar, so happy to banter. Wasn't the major seller at open (from memory there was only one). I was just watching the auction price and decided to ride it with a little snipe just before the open.

No need to fret, but thanks for thinking of me. My overall strategy at the moment is:

1. Keep the majority of my kitty out of the market. I don't think we've close to bottomed yet (talking the ASX here), and am happy to get back in on an upward trend generally and miss some profits but also miss the risk
2. Trade the majors
3. Buy and hold ONLY in a range of juniors I like hoping that one of them plays the way I want to within the next 3 years or so. If the rest don't, well c'est la guerre. Specs are risky, and you know going in that they won't all be winners. What I hope for is that one or two winners will more than make up for five or six that stagnate or fail.

My strategy was to take a bigger position here when the options came into the money. I don't believe in averaging down unless you REALLY know something Mr Market doesn't, but have a certain amount I want to keep in MCO and so *may* make small adjustments if it seems like I can re-jig my existing dollar commitment and get more shares for the same investment amount, accounting for losses.

If MCO went to zilch, I'd be sad (mostly, to be honest, because I like the people here) but it wouldn't significantly dent me. It wouldn't even erase my October profits. I really like this company, but am diversified - and diversified out of the gold sector too. Energy seems the safest play right now, but gold is one where I reckon there are serious moves to be made over the next 12 months, and where the volatility makes for good entries and exits, so I watch it a lot more closely.

I'm one of those people who keeps a diary with every trade, listing reasons I've entered etc so I can improve my mental game. I entered here based on the tenements and because it seemed at a prime point in the development cycle of a miner. That point is adjusted backwards a bit now, but this is a co I'd still buy today based on the potential of the ground, hence I hold.

Hope that makes sense.

By the way, I'd happily share my email with anyone here, but as my sig says I won't really be checking it over the next while. Am a bit swamped at the moment trying to get everything locked down before I head off overseas, and am, in fact, sleeping in my office tonight. One of the benefits of being an academic is that the slept-in clothing look is pretty much de rigeur around here once undergrad teaching stops for the year :)

Anyway, happy trading all. I remain bullish here. Like I said yesterday, I do expect snakes 'n ladders with juniors so this is all part of the ride.