Gold strike!

So I’ve made more money than I’ve lost trading Royal Nickel on the TSX. About six months ago I saw that it had dropped back to its 52 week low so I picked up some shares at .20 cents. 

And of course the stock tanked further all summer dropping to under .10 cents.

And then this. 

Toronto miner unearths boulder that contains 9,000 ounces of gold in Australia, worth about $15M

They get lucky. Share price jumped to .17 on the news and then to a high of .30 cents the next day before dropping back.

I hung on wanting to believe the hype would continue.

Note to self – you’re getting better but still want to believe the hype too much. I watched it fall back and exited with a profit at .23 cents. 

I suspect this is going to drop under .20 cents again and I’ll try to leave it alone until it falls to under .10 cents again.

The good news is I recovered from the loss and ended up with some profit. maybe not as much as I could have but far better than if I held on waiting for that big strike.

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