RE: The sky is falling/ggrenierIntelligent remark ggrenier, or should I say Dr Watson
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So after leaving EFR, I admit a few weeks too late though, now after owning them since october or so when I read the interesting RI article below CAD 3, I have become a "day trader"... (By definition a day trader sells all his positions at market close each day).
With this crazy volatility in the uranium stocks you are are either a fool or very tolerant if you not trade a LITTLE bit and try to benefit from the extreme stock price variations.
EFR has since I first bought them gone up some 15 % or so which is not an especially fine performance compared to many other uranium stocks I have owned or still own, but thanks to some or frequent trading with around halv of my position as usual, I have been a lot more lucky than that, although this last pullback was unhealthy for my portfolio even if it now is so diversified that EFR at the CAD 4 level just acounted for around 7-8 % of the total portfolio.
My portfolio has performed so well though that I now feel I can skip uranium companies with flaws at this stage such as nearly no NI 43-101 compliant uranium resources at all. Short and medium term it may not affect the EFR stock that much, but when a bigger part of the market realises that the RI articles, that so far have accounted for the big EFR stock price movements,to some degree resemble pumping without the full fundamental backup or with excaggerated conclusions like the indicated EFR 40 CAD potential
I also would like to make a remark about this crazy PP-system ín Canada where stocks seem to have no bottoms when many or most of the PP-participants systematically sell when they are allowed to, nearly regardless of price. Here PP-dates often seem more important to know about than the company fundamentals, if you also are looking at the stock price shorter term than looong term
In any case this PP-factor is more relevant as far as the stock price is concerned, than the fact that I got tired and sold my EFR.