The Crash Cometh – Metals Australia Limited
As posted previously about MLS and the recent trading halt it looks like my prediction was way off. MLS has plunged 41% today on news that its court case over a uranium project in Namibia has been judged and not in their favour.
They have indicated that they will be appealing the courts decision but as [...]
About to pop – Metals Australia Limited
Here we go, Metals Australia Limited (MLS) has entered a trading halt and it is highly likely it is in relation to the court case in Namibia. Good or bad this decision is going to send it moving one way very quickly.
My prediction, it will be a positive decision and the share price could easily [...]
Antares Energy Limited – Official Suspension
I smell something here, having rode the rollercoaster a few times on a number of shares (PNA, LYC, GDN) I know that an official suspension from trading on the ASX is either usually very very bad or very very good for the share price when it is lifted and begins trading again. I’ve yet to [...]
HAW – Hawthorn Resources Limted
Really got smashed on this trade:
Buy HAW @ 1.2 cents
Sold HAW @ 1.0 cents
Loss ~20%
Manage to create this loss in under 2 hours and learnt some more valuable lessons.
Lesson 1: Never trade when your primary trading platform is not working. I spotted this trade just minutes after the company released an announcement to the market [...]
MLS – Metals Australia Limited
This is a speculative stock that I have been keeping my eye on lately. MLS has a number of mining interests covering nickel, zinc, copper, gold and uranium. It’s that last commodity that has drawn interest from investors. The company is tied up in a legal battle in the Namibian courts over the land title [...]
SkyGrid Beta
Now this is very very cool. After registering ineterest in being a beta tester for SkyGrid I finally received confirmation and access to the newly launched news aggregator.
If you haven’t heard of SkyGrid it’s a startup aimed at traders providing a real time news stream that competes with services such as Bloomberg. If your a [...]
Country with just a service economy to support it
I follow Techcrunch daily and today came across this little gem. Whilst slightly off the trading topic it can broadly be related to the plight of many developed economies.
What do we manufacture in Australia that is exported globally and is a market leader? I can think of few pharmaceutical products and some small engineering plays [...]
Shane Oliver – Myths and mistakes investors often make
This is a great read, very interesting especially when he discusses the herd mentality.
View it here.
Happy trading.
AZZ – Antares Energy Limited
Trade log:
Buy @ 17.5 Sell @ 25.5 Profit 43.62%
Buy @ 27 Sell @ 25 Loss 10.00%
Buy @ 27.5 Holding
Happy trading.
My Trading Rules – Part Two
Following on from my previous post here are some more rules I follow:
Know when to exit a position. Before taking a position on a trade I always have a predetermined exit whether that be a stop loss to minimize any losses or a profit percentage at which I am happy to exit. This sounds incredibly simple but can be incredibly difficult to implement due to natural human instincts such as greed and stubborness. Remember the golden rule of all trading is to make money, cash is king. Trying to pick the high for the day as an exit is extremely difficult and elusive just as trying to convince yourself that a share will turn around and that your stop loss should be altered.