Mostly: Classical

[Frank Pembleton]

PORTFOLIO UPDATE

Wow! Is the word that best describes the amount of money I made today...but I get weary when the coin comes from the precious metals sector. It's a sign that bad things are coming, although I don't see any of the major indices crossing over the nine #msg-1090439 Still, I'm uncomfortable cashing in big time while a small group of goldbugs are dancing in the streets because of the (potential) carnage.

My biggest % gainer today comes from Moydow, bought it as cheap way to play Newmont, an arbitration -- and it finally started to arb this afternoon, up 20%

No news (is good news?) on Gabriel Resources -- I expected something this morning, yet no news?...but the stock finished up and yes, technically it's still being accumulated as the RSI approaches 50 -- fingers crossed on this one.

Increased my exposure to the gold patch -- by adding Eldorado Gold @ $2.30 and there's isn't anything that I don't like about the chart. I did this because the price of gold finally crossed over the "nine" #msg-1108785 -- some folks would say it's a little soon to get this bullish but I'd rather be in before the 9 crosses the 20.

FNX Mining (FNX-TSX) was halted this afternoon -- then they announced that they're raising C$40 million by issuing 6.21 million shares. Now I understand why this stock was so lazy after announcing some pretty good drill results awhile back - instead of being aggressively bought it was distributed along side its partner Dynatec #msg-1078558

Check out this primer on OBV #msg-954880 It's becoming one of my all time favorite indicators -- an excellent tool when used with Bollinger Bands.

Wi-LAN Inc. (WIN-TSX) I originally had a (mental) stop-loss at $2.80 -- the broad markets are still going up and WIN isn't and now begs the question why I haven't sold this pup? I'm still in the money, since my average buy price was $1.58 -- but I believe it was Warren Buffet that said that his first rule of investing is to never lose money (and his second rule was to never forget the first rule). I need an exit strategy, at least one that will protect my ego from further damage.

Anyway, that's it for now.

Regards,
Michael.........