i acquired nine new long positions and with the exception of one (all in relatively small parcels), and at the end of day, overall they were breaking even approximately – that would surprise most, given the fall in the index yesterday..
The banks - ANZ, BEN, CBA, NBA, MQG, WBC,
Plus others which sort of fell into my lap with very low bids.
MQA - a favourite with the long sticks and which is becoming a reliable oscillator.....
PDN – a uranium miner... they have just gained a lifeline by selling half of their only currently operating mine and being able to relieve their crippling debt situation.....the price of uranium ore is currently at record lows (i think - well very low any way)... ...because of this - one mine has been closed and their other currently operating mine is producing at slightly less than break even.......
A slight lift in the price of uranium ore would see this stock move..... but i really don’t know too much about the future of nuclear energy as a clean energy source compared with the huge activity happening now with the usage of natural gas, plus solar and wind.....
the very small parcel i bought in this one was due to an ongoing spurt in the price of the stock after the completion of the sale process.....
(in fact after typing this, some research suggests to me that uranium is a lost cause as far as a future energy resource goes....... so i might get rid of this, not to return, if i can make a bit on it at the moment)
GXY - galaxy resources a lithium miner and producer..... they have also become seriously cash rich after the sale of their lithium production plant in china and are showing a confirmed upward spurt on the charts .... the stock’s price is about half that of its asset value .... hard to know whether the company may make a special distribution from the profits from his sale ....
On the short side –
with MYR i am doing a “flemster” opening one short at $2.25 earlier this week and not allowing it to stop out, and opening another short at $2.35 which is where it closed tonight.. ...i am dealing in smaller parcels more recently, which gives me greater flexibility to do this sort of thing...
The stock is grossly overpriced imo with a large premium built in on the basis of soly lew making a t/o bid, which i think at this point of time is very, very unlikely.....
HVN – still holding my short here, its going ok, and on this one i’m guessing flem is well in the money??
