Taking Profits, SLW, CVX, BTG

Written by MrStockFox. Posted in Trade Ideas

time to sell

Today I decided to take profits on additional position inside my portfolio.  I felt that it was prudent to book the gains while I had them.  So far this year my average profit has been 23% per trade.  You can find all my completed trades for 2014 located here.

 

This is the chart I posted the other day of Chevron.  I see it highly likely that at the very least CVX will start to consolidate here soon.  Many stocks inside the XLE had pretty big down days today.  With the RSI very overbought and CVX close to my resistance zone, I booked my gains.

 

For being up 28% in only 21 days I decided to book my gains on this position of BTG.  Several factors played into this:

  1. I was on margin in this account
  2. BTG was hitting short term resistance
  3. All Gold stocks are very overbought on the daily charts. 

I have an order to reenter around 2.60.


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Weekly Purchases - 6/22/14

Written by MrStockFox. Posted in Weekly Update

antartica

To add some variety to the website, I am going to start providing images from some of the amazing trips I have experienced over the years.  The following photograph was taken in the Antarctic peninsula in an area known as iceberg alley.

I Bought:

Dividend Income Portfolio

$900 of Ventas Inc (VTR) - I previosly only owned one share of Ventas, but this will increase my share count to 15.  This will increase my annual dividend income by $40.60.

$300 of Bunge LTD (BG) - This is my first purchase in Bunge and it will add $5.44 to my annual dividend income

$180 of IBM (IBM) - This is my first purchase in IBM and it will add $4.40 to my annual dividend income

$150 of Cameco (CCJ) - I didn't purchase CCJ for its dividend income but it does come with a 2% yield.  It will add $2.95 to my annual dividend income.  I am a big believe in uranium and CCJ is a core holding.  Other favorites are DNN and FCU.v of which I am both long.

$100 of Target Corp (TGT)

$25 of Hasbro (HAS)

wrote 3 NGD November 22, 2014 $7 Calls

Commodities

$580 of Altius Minerals Corp (ATUSF) - Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties.  I have owned Altius in the past but this has been my first purchase in a while.  The management is top-notch, so I felt inclined to take a position again now that I believe the commodities bull market just resumed. 

I Sold:

If you wish to view all my completed trades, you can find them located here.

250 shares of AKG for a total gain of 22%.  Held position only a couple weeks and because of the large move I took profits.  I still expect AKG to move higher in the months ahead.  Still hold 4500 shares.

1 share of DVN.  This reduced my dividend income by .88 cents.  Overall gain was 32%.

56 shares of SAND.  Sold half my position because the stock was up 40% in 2 weeks.  My overall gain was 26%

10 shares of SAND.  Sold half my position because the stock was up 40% in 2 weeks.  My overall gain was 20%

10 shares of GDXJ.  Sold half my position.  My overall gain was 20%

Side Note:

My intent is to hold companies for many months and even for many years.  But with that said, if I see something in the charts or receive a large gain after owning the stock for a short period of time, I will sell my position and take profits.

Also, because the general market is up 30%+ over the last year I continue to be cautious when adding to my dividend portfolio and reducing some positions on rally's.  Many of the companies I am interested in buying are at all time highs.  I generally want to see a several week to several month decline before considering adding to a position.  Overall I continue to be overweight in my Commodities Portfolio and use most of my available funds to purchase in this sector.  In all accounts except my 401k I get FREE Trades.  This is why I can purchase only a couple shares at a time without exposing myself to a high commission percentage.


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Asanko Gold (AKG) - Taking Profits

Written by MrStockFox. Posted in Trade Ideas

A couple weeks back I mentioned on my weekly purchase updates that I added a small position of 250 shares of AKG.  Today I closed that position for a gain of 22%.  If history is a guide we should at the very least have a shorter term pullback.  Overall I am very bullish on this company but couldn't help taking some profits.  I hold a larger core position of 4500 shares.  I have added the trade to my completed trades list located here.


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Chevron (CVX) - Nearing Profit Zone

Written by MrStockFox. Posted in Trade Ideas

I went long with a small position in Chevron back around the Jan/Feb timeframe when it approached the bottom of the above channel.  Since ealier this year, CVX has been on a tear without much of a pullback.  Over the last 3 years any up move has stalled in this zone of the channel.  Also note that the weekly RSI is now into overbought territory.  I am wanting to take profits here soon, hopefully with CVX above 135 area.  For now I am watching this chart closely.


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