Three years since last blog...
by, 11th-January-2014 at 08:56 PM (12546 Views)
Three years ago I had solid ideas but unfortunately only partly followed them.
Moving to 70% cash immediately at the start of 2011 was the idea - but only did so slowly. As a result losses reached 35% of my savings in the first half year and of course 70% cash was reached because of this; not the idea at all.
In the second half of 2011, moving to taking short positions in ASX100 and FTSE100 shares worked very well and profits covered all the previous losses. Unfortunately, I kept my gold stocks far too long and UXA and WEC were sold down slowly, thus my red position was not by any means covered.
During 2012 I moved sideways, only slowly taking the advice to reduce trading and the amount riding in each position by the end of the year. All the profits in 2010 were wiped out by now and one third of my Felix Resources gains in 2009/10. Losses now well into six figures.
In 2013 trading only lightly at about 10% of 2010. Cash at 75% meant losses must reduce and a few USA stocks, sold in December, produced much needed profits. Careful long and short positions went well during the year and only small punts on ASX, TSXV and AIM shares reduced my continuing losses. This time reducing cash and buying more American stocks would have been far better: I new what to do and failed to take my own advice.
2014 has gone quite well with a few AIM punts working well early on Bought a lot of JMS before trading on ASX was halted, now a private unquoted company -- director buying prompted this and time will tell.
Looking around the bombed out mining sector now and just picking up a few stocks with solid cash positions or, in my opinion, crazy low prices.
Cash position at 50% again with money sitting in many friendless resource shares. The weak Aussie should turn them round in due course and it takes, a sort of, bravery to keep with them.
Good fortune - noi
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