I have been long GBR.V and GTBAF (Great Bear Resources) for many months and have not sold any shares. I actually added to the GBR.V position, which brought its cost average down to 126%. But the majority of shares are +150% right now and I think it is a good time to advise about a response to a subscriber yesterday who is sitting on large gains and considering whether or not to take out his original investment and let the rest ride for free.
The reason he has not yet done so is my heretofore resolve in firmly holding. Hence my response:
First of all, I very rarely do this, ride a full position without taking any profits. Very rarely.
I am going by trust I have in a friend (Scott) who is a gold fund [manager] who puts a massive premium on [company] management and he just loves himself some Chris Taylor. Last I heard he has not sold a share and he’s been on the stock since it was under a buck. The other is a subscriber who is a geologist and his words echoed Scott’s regarding the deposit. They both think it’s a monster under there. Latest drill results do nothing to dissuade that.
But I am just a dumb chart guy and trying not to take myself out of a great stock too early. I don’t know about you but I have seen sure things blow up before. I am holding. But you may want to think hard about what is best for you. One thing is for sure, taking a big profit and riding free shares never hurt anybody!
While I try hard to disclaim that I am not a stock analyst and as such I don’t make stock recommendations, I do show what I hold and have to believe several people have taken positions in GBR, which I am happy about. But if I had not made a conscious decision – for my own reasons – not to sell any of it I’d have taken the original investment out and been riding free by now.
Just a heads up on this.