Ryan - Believe it or not I hope you are correct in your outlook. This does not alter how people like myself trade a stock. We have done this for many years - experience has taught many of us to not get excited, to watch carefully, and most importantly to have a plan or trading method which is not swayed by idle chatter. This in itself does not in any way guarantee success. It does tend to mitigate large losses. When it comes to Gold mines - at best one can say that they are a high risk situation. To avoid that reality is to lose over the long run. Also they do lend themselves to promotion, hype, scams etc. Not only in Vancouver - everywhere. They also attract the vulnerable, who do not understand these situations.
Now re BCMD - I can only say this. From my experience the odds are very slim of it becoming a major deal, but this is based only on my overview, looking at the percentage of mines which are able to move from the speculative period into real producing profitable mines. That does not mean it will not happen. However if I were to have bought and held every prospective gold mine that I have heard similar stories on over the last 25 years - I would not have what I currently own.
This is a very important point; to differentiate shareholders. If you are looking at this as "the big one", then great hope it happens. But if you trade stocks for a living you must have discipline. Why? Because if you just bought and held speculative stocks like this then over time you will end up with $00.00
And what do people like me look for. I have been very clear. On the long side. Inexperience, lack of plan, investor mania, and strong promotion. Give me those and I will trade, but with discipline.
When you get people who cannot take contrary views it has always proved to be a warning to me.(or a bonus in some cases) We will see here what the case is over the long term.
These day to day fluctuations should not bother you "long term investors" anyway - should it?
Eric |
