You might well be right, Tom, but as I mentioned to Claude, I too was in a paper loss position with NW, having bot it in the 50s (not a large position, 10,000 shares) after its recommendation in Ormetal.
However, when the bottom fell out, I did not sell, but accumulated in the .20 - 23 range - a sizable average down - as I did with CGE, and am now doing with TK. Too often investors and especially traders panic.
I regularly provide a colleague in our Geology dept. with the annual reports and NRs of juniors I have positions in, or am interested in, since my specialization is in Finance, and I'm a dummy in mining. To the credit of CC, not only NW and CGE, but also TVC and CKG, have so far turned out to be solid investments, although on on each of NW, CGE, TVC, and now TK I've had to dramatically average down from my original purchase. I guess in that respect I'm a contrarian.
Naturally I work on a specific exit strategy, and that's when discipline is supposed to kick in. However no strategy works all the time - I wish it did - and thus my preference for a highly diversified portfolio. It helps to smooth out the hiccups. LOL
Cheers,
Brit |
