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Positions Update

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I`ve had to sit on my hands for the past 3 weeks unfortunately, as I´ve been on the road, water and air between The Brazilian Amazon and Caracas, Venezuela.

Have watched as DMM positively broken up and is still going.
BMN hit a bottom and breaking through 1.75 very positive. Higher highs and lows, looks like bottoms in.
STB looking shakey. Nastey H&S forming up, hope 25 holds short term.
MAKO at a discount to heads. Converting them when I get home. Hopefully $2.00 holds up but looks tenuous. Need some drill results and Moina FS to come through positively. Maybe Story Creek JV confirmed and some good results. Anticipate a decent sale of Franklin Iron will give them the equity to go through BFS and some of the capex for Wonarah.
LGL and NCM recovering beautifully. Couldn`t buy at what might be a bottom.
ROY making mid term higher highs and lows looking OK.
IRC profit taking. Not sure where it`s going short term now. Need 42 to hold, or it`s looking poor short term.

Missed on GCR and CVI obvious trades.
Missed trading the gold rebound.
Missed possibly taking some profits on STB and IRC.
Miss my couch and remote.

Back ´home´tomorrow!

PS, just added graphs correct as at 23 May with the inclusions on GBG, a few more BMN, and MLM - to be discussed later.

Only losing 'investment' right now is RER, down 33%, but when I get the entitlement it will probably be down 10% or so. Even then, I'm very concerned about this knife grab, and am considering clearing the decks of it once I get the cheaper shares.
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Updated 23rd-May-2008 at 10:48 AM by kennas (added graphs)



  1. kennas's Avatar
    Topped up a few BMN at 2.04.

    IRC looking very shakey now. Missed opportunity to lock in good profits. If 35 doesn't hold it's going back to 30, at least, IMO.

    ROY looks to be trying to break up, will probably take a few off the table on a break to .35.

    STB holding above .25 is good, will top up a few on break up through .30.

    Am taking up 1 for 1 entitlement offer with RER to double holding.
  2. kennas's Avatar
    Bought GBG yesterday afternoon. Looks to be breaking up from a pole and pennant, target 1.70 ish. Just a chart trade, will sell it if it fails.
  3. mu5hu's Avatar
    Hey Kennas,

    U previously sed STB was forming a H&S pattern. U believe its gone since it broke 30c?
    did you top up more on more STB shares??
  4. kennas's Avatar
    The potential H&S may be invalidated. 25 holding was very positive, however a bit early to call. I will probably add to the position today, if 30 holds. Not many though, maybe 50K. The next phase for this technically, is for 30 to now firm as support. Until that is proven the break is precarious due to the continued selling pressure I described in the thread. So, what I would like to see today is either a gap up, or 30 to be tested, buyers support it, and it head above 32.

    But to be honest, I'm in no hurry, I've drained the cash to below my current acceptable levels due to some other opportunities, and I think we're in a bit of a generally negative down turn right now that could get worse depending on unanticipated bad news.
  5. mu5hu's Avatar
    well 30c can't seem to hold today but it could stil head upwards this week. This week the market has had a negative sentiment so probably has reflected on the share price.

    Lets hope it holds 25c support and makes 30c its next support hey?

    did you mean 50k units or 50k in dollar amounts?
  6. kennas's Avatar
    Started impressively but did it's usual sell off during the day. Disappointing, not sure what to make of that behaviour. I'll be happy too if .25 continues as support and the diagonal uptrend is also respected. Come on STB! break the 30 cent hoodoo!! LOL. Meant 50K units.


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