Mart Resources Inc MAUXF

Taking some off the table

[takingthemon]

As of the last time I wrote I had mentioned that the stock had reached a bad area and could go down further if it did not hold the $1.10 area. This happened and we had retouched the lows.
As mentioned my new average cost is $1.13-!.16 area. I am using this volume movement to lighten up about 30% from my holdings. This swing in the share price puts the recommended buy price in the green. It is never a bad idea to have cash once in the green. I have traded this stock many times in 2013 and  this has worked with 97%. 
There is still many things that could pull the rug out from under the lift in the share price. The balance sheet....pipeline losses....more delays on the new pipeline.....etc..

I think the stock could re touch the $1.45 area again.  If the stock gets to this level in a short time I am expecting a small pull back and would add more if warrented.

Regards

[blue_eagle]

selling into this rally is good I believe..many can overlook 25% pipeline losses..maybe next month 35%...whatever...great growth for sure.why not buy tons of real-estate in Detroit..houses for $1900... dealing with Nigerian corruption is not for me...don't believe the bandits are gonna sit idle and watch alternative pipeline being completed...same program...accumulators blowing off stock...and

[blue_eagle]

No-one is gonna outsmart Nigerian corruption..really admire Wade for his expertise  and courage Nigerians will have the last laugh I believe... Capex and divy unsustainable now...other pipeline will be tough to complete and keep trouble free

[gibbonsj]

I'm not so sure taking some of the table is the right move. I do expect profit taking tomorrow so in that regard you may be right but there are a few NR's pending that will bear positive influence.  Wade is a lot craftier than people give him credit for. I asked the question in an earlier post about what goes through Wades head when he has to put out garbage NR's. Now I know. He