The calls for a technical price correction to gold and silver prices are growing a bit louder every day.
I've managed myself out of all my gold and silver positions now, save for MAG ... which is waiting for the assay results from multiple holes ... any one of which could be a company maker.
The weekend saw me unable to find a single stock in the basement that I would invest in. Part of that reason is that there were too many stocks running, and I detest chasing runners. So I set up a Watchlist of stocks that had been running, and yesterday noticed that profit taking was starting to set in for pretty much all of them. So I basically cashed out my entire portfolio, except for MAG, and I can now reset. It's strange to describe how good it feels to sell sometimes - it's like a wave of relief comes over you.
Anyhow, I've reset, my weekend research started last night, and I found a couple that took my fancy.
CXZ came out with the following half yearly report that looked like this ...
The Market got all hot and excited, with hundreds of millions of shares going through, but the big boys are accumulating this, and they're not letting it run just yet. With a MC of only $22m, when it runs, 10 cents sticks out as the target on the chart.
VTI was the second stock, which has just broken out of it's downtrend. Resistance sits at 3 cents, so I should be able to get in today for under that.
VTI fundamentals kudos to
@10xYaMoney
The third stock was HMD. It's also broken out of it's downtrend, but with only a reasonable increase in volume ... nothing like the other two.
Bit more risk associated with this one, and certainly not everyone's cup of tea.
HMD fundamentals again kudos to
@10xYaMoney. Never seen this poster before, but he provides some interesting information.
Playing in the basement, I tend not to let any one stock take up more than 10% of my portfolio. If one of them takes a 50% hit, then my total portfolio only drops 5%. Flesh wound, compared with something a lot more serious.
MAG, VTI, CXZ and HMD ... which leaves room for six more in the stable. I've got some work ahead of me now.
There's still some good money to be made, but times have changed, and we're all going to need that "skill thing".
GLTA
