I did the right thing (I think) and took partial profits, letting the remainder ride for now. Sometimes it’s a tough call trying not to be the guy who sells too soon but also trying not to be the guy who lets a well-earned profit disappear. I’ve been both of those guys in the past and I can’t say I care for either of them.
As LAC & MP zoom upward to overbought
…because if I stare at them long enough I get the profit-taking urge and that would alter the balance of the portfolio in which they reside.
I’ve sold plenty of items but these two are among the ‘resources’ stocks I’ve held. LAC sports a 62% short-term paper profit after a buy on the consolidation to the SMA 200. This was bought for Lithium exposure after I’d felt the Li patch had been hammered enough. The original goal was for a new high, and I am trying to be that guy; the guy who does not sell too soon. That could also be the greedy guy.
From NFTRH 699 last weekend:
Still holding Lithium play LAC as it slams upward and reasserts its uptrend in a big way.
This is normally the type of move that I’d sell, but I am trying to have some patience with
certain items with thoughts of those I’ve sold too soon in mind.
MP was added for its strategic importance to the United States of America, at least in my mind. It’s richly valued and quite a story stock. But… strategic. Domestic REE instead China dependence. Both of these are stretched to overbought and the paper profit on this one is 50% since purchase near the SMA 200.
From NFTRH 699:
The MP position is working better than expected. What I expected was a compelling
story that would somehow foil me due to valuation or a simple misjudgment on my part
about the strategic importance of this company and what it represents to America
(domestic production of critical REE materials). It’s bullish, getting overbought and
above support at 50 +/-.
They are definitely in the profit-taking zone but I’ll try to have some patience. Maybe trim partials.
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