Just for the record guys, I exited my positions this week.
As I had written, I had earlier exited all my trading positions, this week I exited my long positions.
So why did I exit after just few weeks? Firstly, and the most important reason is that one sector that I have been writing for close to 2 years and which was not doing well for last 18 months, is now showing some signs of getting up from slumber. There is no guarantee, but I have been waiting for close to 18 months looking for some signs. It has tried multiple times in last 18 months but failed. It can fail again this time. But its looking slightly better previous times. So I thought I will most of my funds into that sector - if it works fine, otherwise I come back. Its Uranium sector.
Other reason is that I feel the price has got stalled here. Only a strong announcement can lift it from here. I know it can happen, and I was playing for that. But somehow the price action in last few weeks did not give me enough confidence. I thought about it. I thought - if there is something good, I may miss the initial gap up, but since I know decent about stock, I can always get in. If something really good will happen, I am hoping it does not happen in a day - it can - but I am hoping. Meanwhile I play my U sector.
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The announcement yesterday, I felt was nothing of an announcement. Why would we need an announcement like that? It could be right - from a full disclosure perspective. But it did not add to anything. And it was price sensitive.
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So when I will be back? Either a strong price action or a strong announcement. I still feel I will be back and meanwhile play with my U sector.
So what may happen to G88? I feel we have crossed the stage of hype. The sp may not increase much just on the hype or potential that something big is here. Punters will not buy it. Now we have reached a stage where the drill will do the talking. Honestly, I don't like drill results. They can sometimes be a play like heads or tails. Also, in general, most mining companies don't heat bonanza straight away. It can happen, but probability is a bit lower. But it can happen. There is nothing to suggest till now that it may not happen here. But for me, now I want to see it. I wish you all the best, sincerely hoping that something good happens here. All the best.
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