Earlier in January, I spotted a Canadian rare earth mining company called Great Western Minerals group that trades on the Toronto Venture Exchange, stock symbol GWG.V that broke out from a sideways price consolidation. As you can see from the chart it was hovering at around $0.40 for quite a long time (3-4 months) and then it broke to the upside.
This stock has a lot of following from some institutions as well, so I bought albeit a little late at the price of $0.61 however this stock had plenty of upside left. so I purchased on January 4th and sold on January 25th for the sold price of $0.95.
That is a $0.34 per share profit or 56% profit…not bad for about 20 days. Anyway, I got out early and as you can see from the chart GWG.V hit a high of $1.14. No big deal , a profit is a profit.
I am going to wait until this bottoms out a bit, and then may go back in if rare earth stocks are still hot and didn’t go out of favor at around $0.60-$0.70 and then basically hold and wait for another leg up.
Please read my disclaimer. Do your own due deligence when trading.
Das Brain
Bookmark at:StumbleUpon | Digg | Del.icio.us | Dzone | Newsvine | Spurl | Simpy | Furl | Reddit | Yahoo! MyWeb
