You have put me in a spot Zac. I was hoping it was not today, but since you asked.
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First of all, in the last several months since I started playing MTM in this phase, I can tell honestly - if there was one one person who had total conviction and not concerned about day to day price action, even when it fell towards 12, that was you. You have done well. And I am sure you will.
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I have had a mixed play here. I had a big play but when it looked weak, I took a small profit, around 20%, but kept around 60% of my play. I have always written that in medium term I feel good, short term - mostly no opinion. That was till last week.
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This week I exited. I know you will hate me. But hear me out. Firstly, I have been playing for quite some time, and writing. So any sell was not a whim. In this phase, I sold today, and it was much over 100%. I know many sitting on 200%, 300% etc, so my 100% might not look big, but it was big enough for me. But that was not the main reason. Even last week I wrote, when it was playing m9d 20s, that I will buy when it goes lower or higher. I did buy higher. I did play the numbers.
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Now for the reason I sold.
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Firstly, I am playing big time on U stocks. We are reaching a level, where there may be a topping shortly. I have exited from most of my other stocks to play this short term Uranium conundrum. If you don't understand this Uranium, please look at my posts for last several weeks. I am not asking you to play, but maybe you could understand why I am. I feel Uranium sector may go into euphoria next week. What does euphoria mean? Average punter talking about U stocks and trying to play.
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Secondly, we are reaching - tax sells. Every year, I think that the tax sell will not happen. Unfortunately, it happens. Every year. For last 4 years. So this year I thought, I will take emotions out of it, and sell in May - and face the consequences. I hope you understand what I am saying.
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Thirdly, I felt, MTM has done its second biggest rise. The announcement was today. But even last week I wrote, I feel a strong play to hold 24. Now we understand. Unfortunately, Mr MW has not a good reputation. I played VSR when he was on in control. Every announcement looked liked we are going to the moon. And it went. Till it didn't. So I am always skeptical - nothing to do with what's happening, just my experience. See, how MTM went big last few days - do you think there was some leak?
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I am out for now. I will play again. But different levels. Higher or lower. As I wrote last time, for me most important thing is direction, not price.
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I will be watching and get in as soon as possible. I expect Uranium play to happen for next 2 to 3 weeks. Ideally it will suit me that MTM decides what to do next.
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Most importantly, don't bash me just because I sold. I have been honest. If you can believe me. All the best.
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