Sep

21

Taking profits in EGY on oil weakness

September 21, 2007 | Leave a Comment

This afternoon I decided to take my profit in EGY and sold my entire position at $4.84. I continue to like the exploration story here, but with oil showing some weakness in the afternoon after moving straight up for the last 10 days, I thought it prudent to take my profit and free up some liquidity in the short term. My sentiment is that if oil comes under further attack after the weekend, it could spell a pullback […]

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Sep

18

Fed surprise mandates a re-evaluation of the markets

September 18, 2007 | 1 Comment

The Federal Reserve’s 50 point cuts in both the fed funds rate and the discount rate obviously took the market by great surprise today, as evidenced by the wild gyrations in virtually all the financial markets after the announcement at 2.15pm. The surge in equities, with all major indices rising by more than 2 percent, appears to signal something more than simply a short squeeze on the back of the Fed rate cut.

There were certainly other signs that today’s […]

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Apr

10

Closed EGY, increased cash position to 40%

April 10, 2007 | 1 Comment

This morning I decided to take a small profit and close my trade in EGY at a price of $5.43. Although the trade represents a small profit, I am not happy with my execution, and I allowed myself to be shaken out of the stock on a brief dip. Frankly, I was scared out of this holding because of my pessimistic view of the general market as well as my doubt of the sincerity of the move after […]

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Apr

9

Three new holdings

April 9, 2007 | Leave a Comment

This morning I decided to add 3 new holdings to my portfolio. Readers know that I have been sounding the inflation alarm for the last few weeks, and my new purchases reflect a desire to hedge against inflation, especially with the PPI due on Friday. My reasoning for each new buy is below.

SXRFF.PK–I decided to add SXR Uranium One to the portfolio today after reading (via Paladin’s most recent press release) that the uranium price had jumped to […]

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