Positions update - taken profits on EXM and HLX
by, 10th-January-2008 at 01:46 AM (2563 Views)
With this jittery market I've decided to sell a few HLX and cashed in all EXM.
Not saying either of those won't keep running it's just that I'm about $60K into the margin loan at the moment, which in the scheme of things isn't much, but I'm wanting to clear the loan completely over the coming weeks to remain debt free during the US recession, and be ready for opportunites.
Not sure which of the stocks I'm going to sell down. I'm way overweight BMN so I might take a few there. If KMN rallies (doubtful) I might take a few off there too. Currently down 20% on that woofer but it's very hard for me to see 50 ish cents broken on a peer comparison just on San Anton project.
Might take some MAKO off the table, but after confirming $56b IGV in the Rock Phos, the sp could go anywhere...
Stocks I probably won't take profits on atm are LGL and NCM as I am pretty sure the US is going to continue to lower rates further tanking the USD even further. If anything, I'd like to free up cash to buy more of these on dips without using the ML.
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