I bought 1500 shares of PONY at the open today. It seemed like a good time to buy as this was once a $5 stock during the last year. I paid $2.78 a share and then it proceeded to lose 2.5% at the close.
I'm only buying small $4K positions in any stock I buy on a Monday. It is very seldom I buy a stock and it goes up. Matter of fact it is probably a great contra indicator for anyone else buying any stock I do. When I sell, it goes up like ELD did today after I sold it Friday.
This is what happens timing the market.
With all the Iran threats, on top of trade wars and a rise in the price of oil did absolutely nothing to move the price of a lot of energy stocks. Maybe the run is over I don't know. I may have to sell this stock before Friday and reload. We'll see what Tuesday brings.
Novo Resources (NVO.TO) is starting to perk up and had a great 11% pop today. It has only been on my Gold Watchlist since 16 July. I may have to buy into the volume tomorrow if it continues moving up. It is definitely one to watch as it has been as high as $8.83 and closed today at only $4.30.
Gold had a terrible day but most Weed stocks did well. I've added APH.TO back to the Watchlist. APH is still $13 off of it's 52 week high so lots of room to run and ACB had a nice pop up 4.6% today. They could all reverse course and we could get whip sawed in the process.
I have never seen sectors so up and down on a daily basis as Pot and Gold stocks are right now. It feels like physical gold is going to fall a lot further because it doesn't seem to like the unrest and threats in the Middle East.
You have to be nimble or commit to a stock and just hold on if you bought it at a good price. APH, ACB and NVO are giving us that after today's trading action.
Good Luck and Happy Trading!
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