Goldtent TA Paradise

Boing !

1. Surf City says:

   May 15, 2019 - 3:51 pm at 3:51 pm

   Sold my long-suffering position at a decent profit today. The next 6-12 months will be Time to cull the heard and focus on fewer positions, IMO

   • Karl says:

     May 15, 2019 - 5:51 pm at 5:51 pm

     Congratulations on your astuteness and patience.

     I am with you, very much so on the culling. I’ve been selling some less attractive stuff and buying more of the stronger ones I already own over the past days, weeks, months. So far the net results have not been bad though not dramatically good like yours. Good enough to make it hard for me to experience others’ gloom.

     This cleaning and simplifying you describe means you can focus better. It makes record-keeping simpler–especially important for those of us in the US as reporting requirements for foreign investments esp for unprofitable entities may increase. Just getting rid of the dirty charts, ugly managements, concatenations of bad news releases, low cash on hand problems and adding to the ones with the opposite does good for one’s own portfolio when others point to ugly things in indexes.

     However against too much culling and simplifying: a highly successful Vancouver entrepreneur once told me that one should have at least two dozen penny stocks if one has any. If one chooses astutely and has fairly decent luck, he said, even in a bad market one or two of them will shoot to the moon while many of the others go towards zero. I think there is some indication that actually a number a bit over 2 dozen may be better if one is holding long shots. But that’s way too many to keep track of easily!

     • Fullgoldcrown says:

       May 15, 2019 - 10:03 pm at 10:03 pm

       I have had as many as 50 of the things at one time…and they ALL went up for a while there in the good old days ( Noughties)

       But you are right Karl….can’t track them all properly .

       I am into XGD.to for now….easy in easy out….some good quality in there….No Kamikazi Leverage though so i like to play HGU.to or HGD.To 2 Xers based on XGD.To

       Thats how I play for now….Fells like the right thing to do until we are confirmed in a Golden Bull.

       For that we have to tune out all the Golden Bull from the twits out there ….and follow good chartists ….like we have in this community.

       Good luck all however you play it.

       • Karl says:

         May 16, 2019 - 5:35 am at 5:35 am

         I was not astute enough to be owning AGB. I had followed Spock when he told us to sell it because (as I recall( it took out gold loans????.

         However it looks like an example of a stock that one might reasonably have been buying recently for one’s gambling portfolio if one chose to have such a PF, using proceeds from some of junkier holdings. I think it had decent management. It kept having news releases that–although I did not scrutinize them–at least had the sheen of having something good beneath them. I haven’t looked (as I usually would) at the chart in different time frames (much less moving averages or fancier stuff), cash available, and so forth. But this chart is an example (albeit a cherry-picked one) of how one can avoid succumbing to the dismal droopies of the averages if one looks at individual tiny companies. Although in my paring down my PF I’m focusing now on using raised cash to add or possibly add to the larger KL, WDO, OR, PG type stuff I’ve owned for many years I did just recently buy a tiny tiny stock recommended a while back by “Otto” at IKN that literally hasn’t traded in Canada at all for days. I bought because of its super chart on multiple time frames and apparent super fundamentals, one that Otto himself almost seems almost to have half forgotten it is so tiny and quiet.

         A long way of saying there’s a role for looking at the individual companies and their charts by yourself. Surf City’s holding here worked, and in retrospect the chart did not look horrible like this or that index or ratio.