Finally the market is starting to pick back up, as I keep reminding everybody, it takes PATIENCE to be a good investor. Too many people get discouraged when the market moves against them and SELL at the bottom when they should be buying instead. I KNOW it is a difficult thing to do to BUY when the market has been trending lower, but that is how you make money, buying CHEAP when others are fearful and then SELLING when stocks have moved up significantly and people are finally climbing on the bandwagon and push shares into overvalued territory, then you SELL HIGH! Still debating whether i want to own Molycorp shares once they complete the NEM takeover, but today I sold half my position for nearly a DOUBLE. Almost sad to see this one go as I think it still has much further to run, however once under Molycorp’s control it will be a severe dilution unless Molycorp itself heads back to its previous level above $50. at current prices it might well be a good buy, but at my capital level I prefer to buy cheaper stocks in the sector with ultimate 10 bagger potential like DMI Metals or IBC Advanced Alloys IB-V as per recent update!
Details: Wanted some funds to buy options with great upside while they are available cheap. If Molycorp remains cheap I may tender my shares on the takeover offer. With some new and cheaper shares I want to buy I succumbed to a higher price for my remaining shares.
Symbol NEM (***NEO MATERIAL TECHNOLOGIES)
Price $11.052 Bought @ $5.79 Nov/2010
Details: Still holding a few thousand shares, just raising some money. BUY on DIPS!
Symbol AME (***ABACUS MINING)
Details: Excellent company, selling only to provide capital for other stocks I wish to buy at current bargain levels.
Symbol BTO (***B2GOLD CORP)
Details: Raising some capital to buy some new stocks. Copper is up and down so i use “stink bids” to get the best price possible in a volatile market. Reason for selling, Chinese demand appears to be weakening so it makes sense to cash in an almost TEN BAGGER. Still holding some shares for market recovery. The question to ask yourself is, do you have the patience to wait 2 1/2 years to achieve a 10 bagger?
Symbol CUU (***COPPER FOX METALS INC.)
Price $1.07 Bought Oct.09 @ .115