Some of day's biggest contributors:
- Sensio 3D - SIO.V (+7.3%)
- Neo Material Tech - NEM.TO (+6.2%)
Neo Material Tech is a processor of rare earths. From what I understand about rare earths (which is not a lot), once the metals are mined they require a lot of processing to make them useable. NEM.TO stands to benefit from the sudden increase in the number of mining plans that have recently been announced.
- Bought HGD.TO @ 11.05, then sold it @ 11.74 for a 2.8% loss. Gold shares looked like they were poised to break lower and provided good risk/reward. Little did I know that gold would turn around and rally like a mofo. By the end of the day HGD.TO closed at 10.43, so here's a good example of why stops make sense.
- Bought HND.TO @ 7.78 as a short natgas play. It closed @ 8.22 (+5.7%). You can read my blog post here at http://johnnystocks.blogspot.com/2011/02/why-natural-gas-is-short.html if you are interested in the rationale behind the trade.
- Added 50% to ENOC exisitng position @ 24.76. I was already long @ 25.81. If price falls again tomorrow I will probably sell this position for a loss.
- Bought PC @ 13.32.
- Bought TBT @ 39.53. I issued a trade alert on this one earlier today when I went long.