<I am having a hard time buying warrants until there is a significant correction. My last warrant purchase was AEMLW at about $1.50. Sadly, they are all gone now. I made a very healthy five digit gain, but left six digits on the table with them at $19 today.>
I hear you... those AEMLW were something, and although I too "sold too early" so to speak (in hindsight) I think that is to be expected. I also "bought too early" paying as much as (gulp) 2.50 or 3 something for them! Luckily I kept with the program and really bulked up at the lower price thanks to helpful posters continuing to point them out. Like you my average selling price somewhere north of 10, but I'm very happy. My feeling was to hang onto or buy more "little stuff"... ie. other warrants I thought were cheap and let larger stuff that would get whacked in a correction go. I've also sold about 3/4 of my Wheaton (now gold corp) warrants which, with KGC was my other large position in a "big" stock, as well as lots of other stocks that have really moved... most of the MNG, CLG's, AGI, GSL, KGC, NGX, HMY,GFI, even TVC and others are mostly gone now. Most of my energy also gone now, although I'm holding my (late) Uranium buys.
THAT's why I've continued to buy (some) warrants even lately as I sell the other stuff... they're a cheap shot on a continued rally IMHO and I never want to be off the PM train completely. I subscribe fully to the 'wheelbarrow full of dollars for a loaf of bread' theory. That said, I have lowered exposure measured by dollars invested by over 50% this year... maybe a mistake on the face of it, but it's been a hell of a few years and I remain almost 100% out of the US clownbuck and my PM exposure was insane by "prudent man" rules (ie. anything that is being given away is too risky to own) so I feel good.
Thanks for the tanker play... I'll have a look.
DAK |
