Like everyone else has said the spec end of the market seems a little challenging at the moment, most of my holdings have pulled back substantially and in some cases I have taken the opportunity to add more.
In February my trading portfolio was down 13% and March around 0.4 %, April so far is not looking any better. Going off past history, this is not unusual for this time of the year.
I managed to unload the last of my ENB shell stock when they announced their next acquisition. My first bought parcels were back in July 2017 and then with progressive sells this netted just under 100% return.
If you choose the right shells then it can be easy money, but it is so painful waiting. At the moment I am limiting my portfolio until other existing shells have shown a profit.
I saw ENB yesterday for 1 cent and was almost tempted to buy back in, but the chance was quickly gone.
The good news is that AR1 is due to relist as Emerge Gaming shortly. E-sports seems to be taking off so hopefully the new listing will gains some traction. The share and options holdings have been advised, so not long to wait.
One stock that I tipped last month and did nothing was SRZ.
I bought some more again yesterday, based upon steady accumulation and two of the Directors buying the 5 cent options.
I would like to tip the stock again for the STT, but I don't have any technical or financial reason to do so. It is going to go up, but I have no idea when.
What I can see though, is no news, no bulletin board discussion, but there are sporadic bursts of buying, which I see as a positive sign.
The weekly and daily charts show accumulation, so I am following the chart. This month I also bought the same 5 cent options that the Directors bought.
Whilst the small end of town is not turning in the goods, the big end of town is showing promise. SBM has returned 33 cents per month since last October and has just broken out of the recent sideways channel to make new recent highs. AU gold is trending higher but it does seem more than that.
The long wick candle under the green arrow was on a day when there was no fundamental reason for the stock to go down and it is more likely "stop running" to force people out. This gives me a lot of confidence that the stock is going higher.
SBM are cashed up and have made a couple of strategic investments in other miners. I shall keep buying whenever it tests the 40 period EMA and I still have a target of $5.50 by July, that I made in February.
Iluka had a big jump on Friday on the back of the news that Rio have issues in SA with supply of mineral sands. Whether it benefits them or not remains to be seen.
BSE and STA are both minnows in the mineral sands space and worthy of a look in. STA is still awaiting the mining licence in Tanzania, but holders recently exercised the 12 cent options so they are reasonably cashed up. My view only, is that some shares were sold to fund the option purchases and hence the fall in the share price.
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