Friday, November 8, 2013

A New Adventure Awaits -- Exiting Open Trades

On Monday, I'll be launching my new resource trading service for Oxford Club -- Gold & Resource Trader.  Oxford Club has strict rules that analysts can't own the stocks they recommend. So, it's time to exit the remaining positions in my own portfolio.

From now on, in my own portfolio, I'll stick to trading mutual funds and ETFs. It's not nearly as much fun, but I need to follow the rules.

I started this portfolio of tracked trades in September, with Guggenheim Solar (TAN). I took two rounds of profits on that. In fact, most of my trades were profitable -- even the gold trades. I took a string of gold profits just last week. And some trades, like TAN, were very profitable. 

But the big winner has to be Parker Drilling (PKD).  It's up 43.5% in less than a month (I added it October 10th). Dad-blammet, I hate to sell that one.

But then, I also hate to exit Primero Mining (PPP). Its good news is just beginning. And it's not even the gold miner I like the most right now!

Just as important as banking gains is keeping your losses small. And I did that, too, with a policy of trailing "close only" stops, along with prudent exits when I saw fit.

If you're one of my readers who followed me from Weiss Research, you'll find more of the same in Gold & Resource Trader.  You'll remember that I beat the pants off my benchmark in the first half of this year when gold was on a slippery slope. 

That's because I'm smart enough to know that gold isn't the end of the story. It's just the beginning, a signpost on the road to riches in all sorts of natural resources and the companies that deal in them.

The funny thing is, the traffic on this blog shows that while people are interested in good ideas, they are REALLY interested in gold.

Changes to This Blog

I'm going to use this blog a bit differently going forward. From now on, it will be for items that don't fit in the issues of Gold & Resource Trader or my regular Thursday column at Investment U.  That will include ...

Specifically, anything I think will make subscribers money will go into Gold & Resource Trader.  So, I probably won't be posting as much here on the blog. I hope you'll forgive that, and keep checking back now and then to see what wild thing I'm talking about next.

One final note: I'm very bullish on America's future.  I think the 21st Century is going to be AMAZING for America and its people. I wish you all the best in your next great adventure. I'm going to aim to have a lot of fun in mine.

All the best,

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