Technically speaking the VEN.TO – Ventana Gold 60 minute chart is very bullish. From a purely technical perspective there is not much more you could ask for. The next drill results will determine the direction of the next move.
There is no way to tell what those results will look like. I can’t look into the future. What I can do though is to put odds in my favour.
- The trend is up.
- The right people (Ross Beaty) are backing the stock.
- The volume pattern is bullish.
- The chart pattern is bullish.
- They already found gold. When you find gold chances are there is more to be found.
I don’t care about the outcome. Odds are in my favour. My job as a trader is to make sure I have exposure to high probability outcomes and to be open for opportunities. Then I repeat the process over and over again. As of yet VEN.TO is a winner. As long as the chart doesn’t tell me to get out I am sticking to this winner.
Today I sold UW.V – Underworld Resources. I do think it has good gold grades. But that’s not the point. The stock was draining my mental energy. Preserving your ‘mental capital’ is even more important than preserving your ‘financial capital’. I will write more about this topic soon.
As I wrote in my last posting my plan was to redeploy the proceeds and either buy AVL.TO – Avalon Rare Metals, UXG – US Gold or BXI.V – Bio Extraction. That’s what I did. I bought more BXI.V and more UXG. As a general rule I try to keep the amount of newsletters I send out to a minimum and don’t send out newsletters when I add to or reduce positions. There are no secrets though. I constantly add to my winners and trim down my losers.
Constantly add to your winning positions and reduce your losing positions.
Have a great weekend!
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