So far the markets are holding up well. Silver in particular is acting quite well. That leads us to MRZ.V – Mirasol Resources which is one of my portfolio positions. Today the stock behaved exactly the way I expect strong stocks to behave. Put another way, the stock is sending an important message. It basically says it is not ‘trapping’ traders. Nothing is written in stone and this could change but so far I have no reason to be doubtful. I still think we have a huge winner here. I consider the dip below 2.00 to have been a classic ‘shaking out of weak hands’. Time will tell. As I’ve outlined a few days ago MRZ.V – Mirasol Resources is now starting to establish a trading range above the 2.00 level. Based on today’s action I have no reason to think about selling the stock.
Administrative Notes:
I have spent most of the night reorganizing the structure of my public list and have updated and improved the website over the past few days.
- Public List Structure: My public list now starts with small charts that are easy to view if you use small screens or low resolutions. I also added small format sector overview charts. I will annotate them later on. For those of you with bigger screens you can access charts using a bigger format that are located in the second half of the list. If you want fast access to a single chart select the ‘chartbook feature’ on the right-hand side located on the top just above the first chart. Open the drop down menu and select the chart you are interested in. Thank you for all the votes. This is much appreciated!
- Website Search Box: I have added a title above the website search box in order to improve visibility. You can search my entire website for specific keywords and ticker symbols.
- FAQ Section: The main addition is the fact I usually own 7 – 10 stocks when I am fully invested. This should give you a pretty good idea how I allocate funds. Make sure to read the whole section if you want to get to know more about me.
- Browser Issues: I have finally fixed that HTML code that messed up the way my website was being displayed when using the Internet Explorer. Everything should be fine now.
- Quotes Section: I update this section on a regular basis. The latest additions include quotes from Brett Steenbarger, Victor Sperandeo, Martin Zweig, Paul Tudor Jones, Bertrand Russell, Wayne Gretzky to name just a few.
- Trading Rules Section: I’ve updated the part on risk control and what I look for when I exit a position. “As soon as the reason for your entry is not valid anymore exit the trade.”
If a chart doesn’t give you a reason to sell stick to your position.
Have a great evening!