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The Lyceum - searching for eudaimonia

Positions update 1 Aug

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Crikey! We'll be able to look back on this in 10 years and say, 'I remember the 07/08 credit crunch that destroyed the housing markets around the world, and put the world economy into a bear market'.

Traded GBG for a 4% gain. Waste of time really.

Sold a few MAK at 1.60 to get some more cash in the bank and wait for it to turn around.

Sold all STB for a nice profit.

Bought a few more BFE, but it's going crappo. Still way undervalued on a peer comparison and I trust that it will be rerated once it starts moving forward with resource definition. Not selling on technicals with this as I believe it's so fundamentally undervalued.

DMM just holding as above.

Bought more AZM on their last drilling update ann at .165. It then managed to find it's way back to .12 and I was thinking, 'nice work Sean'. Goose. Anyway, Macquarie just taken 13% of the company, and it's still way undervalued. The Bepkong JORC should give it a great boost and I will probably take some profits on the JORC ann.

Topped up a just a few NCM. POG is starting to look tasty again and should consolidate around these levels for the next leg up. Will be going long on the unerlying also when I see the break up.

Sold all KMN for a good profit.

LGL, hitting LONG term support at $2.75, and I might add a few there.

BMN, Wooof! Delays, delays, miscommunication, giving me the sheets!! If they don't get 100m lbs out in the final resource it will be smashed. I have my fingers crossed. Major risk is the Savanna litigation, that could decimate the stock. On the other hand, if it's squashed, will probably fly.

Overall, I think the market has the potential to consolidate around the 4800 level and we might see a decent rally. Long term we're seeing some great value emerging. Lots of the pain is factored in, pending how badly the inevitable Australian housing correction/bust takes shape.

Have my model portfolio ready to go, and have the cash to run with it, and will do it in the margin account to draw on the excess equity for when it all turns around. Might be some time though.

Also waiting for the seasonal run in POG to occur in August some time.

I haven't been including my CFD account money and IG markets trading account cash in the overall picture here. There's not much in either as I diverted most cash in to an interest bearing account when the crunch really hit earlier in the year. Might be time to start reducing cash completely soon and being more fully invested.

Not invested in any stocks with the CFD and just daytrade with it. No open positions in the IG account.

Looking at:

Probably topping up a few NCM or LGL is gold breaks up.

Selling a few AZM on JORC ann sometime this month, depending on what it actually is and market response.

Watching MAK for break up to add some more, maybe.

RWD for break up. Probably will once the Martu finally sign off on the mining agreement.

On top of this, I'm living in hotels for the next 3 months so I'm just on the notebook. Life's tough without the big screen....
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  1. kennas's Avatar
    Topped up a few LGL on what looks to be an overdone sell off. No reason for it that we should be aware of, just panick, and a long term opportunity to top up IMO. I hope.
  2. JTLP's Avatar
    Kennas...today is my birthday! =D

    You think I would have come home to some bloody ripper announcements???

    All i gots is a lady overseas and a backpack full of broken dreams!

    All the best son
  3. Miner's Avatar
    Happy Birth Day JTC and Many Happy Returns of the Day

    Today is also the day I joined the workforce finishing my first uni course

    Take care and all the best


    HI Kennas

    Please do not mind to use your blog space to post JTC a mail
  4. kennas's Avatar
    No worries miner!

    Happy birthday JTC.

    Hope you can remember last night!!

  5. JTLP's Avatar
    Wow...what happened on the weekend.......

    Thanks for the wishes Kennas + Miner...was a very good day!

    Miner what did you complete your degree in? And what sort of job did you get? Congratulations on these achievements!

    This market sucks...my money feels so dirty.

    Kennas are you still looking to withdraw all funds at the right time?
  6. kennas's Avatar
    No, What I've got I intend to hold medium term, but will take profits if there's a decent run. Well, that's the intention at the moment. If anything, I will probably be a buyer in the coming months.
  7. kennas's Avatar
    Nice work topping up LGL and NCM over the past week or so.


    Moments like these you wish you weren't a long investor and were sitting on piles of cash earning interest...


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