Almost Everything Down Across The Board – Portfolio Positions Review

by Olivier on August 6, 2009

Not many stocks in the green today. Today was one of those days every position in my portfolio was down. A good day to review all my portfolio positions.

  • WTM.TO – West Timmins Mining: Looks like a constructive consolidation pattern in the 2.00 – 2.50 range has now started.
  • BXI.V – Bio Extraction: Very constructive consolidation pattern. Volume is declining and the stock is displaying incredible strength. I still think it is too early to just jump in. I am waiting and watching the consolidation pattern unfold.
  • VEN.TO – Ventana Gold: Consolidating around the 5$ level. I consider this to be a very strong stock as lots of traders had hoped to buy shares below 3.50 after the surge in June. They didn’t get the opportunity and if they want to get in they have to pay up. That is a sign of strong demand and great strength.
  • UXG – US Gold: I consider this one to offer the best immediate pattern pressure of all my holdings right now. Then again the recent drill news from their Mexican property obviously didn’t have any impact on the share price. The stock’s trading personality is not exactly what I am looking for. Price movements are more or less erratic. The story and the great potential the stock offers is too good to pass on though.
  • AVL.TO – Avalon Rare Metals: Stock is testing the ascending triangle breakout level at 1.80. Holding above the 2$ level would have been a much better sign of strength though. Support is good but still I am not exactly happy with the stock’s action.
  • RES.V – Rare Element Resources: Hindsight is always 20/20. Looking back I should have sold at 2.50 which was the reasonable target I outlined. The stock indeed managed to hit it. Now the stock has given back almost all profits and I might consider selling for a break even trade if the stock can’t manage to move above 2$ again.

Have a great evening!

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