Well as you know I haven't been around here since March. I figured, until I see some action and some volume, then maybe something is happening. But this has been a dog lately, speaking as a short to medium term trader. I just happened to look pull up a chart tonight to analyze and look at the volume on the chart and...............did I say volume?.........what the hell is that, because I couldn't see any on the chart.
But then again I did say when I bought this that this was going to be my sock drawer investment This was probably my first venture into a long term junior explorer, knowing they can be higher risk, but of course, with the right pick and enough patience on can strike gold, as it were. I'm also learning that choosing the right junior from such a vast pool is much more than just grade and/or other external factors. The Insiders as Stem pointed out and their background and experience speak volumes. When you get big names like McEwen, Sprott, and others involved, it's as Marin Katusa says, beyond just grades, look at the leadership and see how much skin they have in the game and then other big name investors like those mentioned above.
As the old saying goes, "Good things come to those who wait." Or as that famous trader once said, "When you know your right, sit tight."
Think maybe I should review my outlook and some of my sell orders and target zones.
I'll confess, although I have been trading this sector for, pushing a mere 7 years, I know little to nothing about grades or strike zones or 43-101's or geology. I know how to read a chart along with other technical indicators and I see patterns in candlesticks on a chart that show area's of potential supply or demand, based on the teaching I received through the OLTA and I take tips from those I deem trustworthy because of the DD they have done. People like Stem re:Inventus, or JW re:SFOR the plug for GQC and the many others that add to the MUX board. And then I have my good buddy who's pushing 35 years experience trading the Canadian Venture exchange and he's all about numbers, cash and burn rate. One of his top pick's to me aside from GPY (made a nice return on this and still hold a small position, but patience (6 months) was the key) is ERC FWIW
They hold a basket of other juniors. It's like holding an ETF or basket of gold miner's in one stock. |
