Welcome to the first NAK Report
March 27th, to March 31st
This has defiantly been a roller coaster few weeks for both our emotions and capital. It seems when there’s a chance we may finally see a little light at the end of the tunnel another disappointing news article or decision comes out to quickly wash away the weak and hold down the bulls for another day. Yet I am still not discouraged because of the many outside articles supporting the fact that there may be a Pebble Mine in our near future. Our position will always be NAK long but If there is clear evidence that the Pebble Mine Project will not happen with this administration then I will sell a part of our shares and buy them back when it reaches rock bottom again. I am a trader by nature but would not even think of selling my shares in such time of opportunity. I would rather lose 3/4 of my investment then miss out on the potential of the worlds largest gold mine. This is currently my only long term investment.. Now that our biggest supporter has dropped out of the race it’s up to us to stay strong with our own conclusions. I don’t blame anyone for closing a trade moving to the next venture but I feel the way they went about it was more to punish NDM for their lack of communication. Despite the article we held strong and managed to finish the week in the green.
High $1.51 Thursday 11AM
Low $1.33 Monday 9AM
Observations For The Week
After the SA article on Saturday the stock price rose steadily throughout the week from its $1.33 low on Monday and peaked to $1.51 on Thursday at 12pm just before the new SA article was published. The price slowly fell throughout the rest of the day. Pre market Friday dropped the price down to $1.37 but was quickly bumped back up to $1.41 after the opening bell. Other than a small breakdown the stock held good the rest of the day to close at $1.43
Conclusion- Despite the quick enter and vocal exit of SA we still gained $0.07 this week
The price crossed the bottom Bollinger band one time this week on Thursday at 10AM then quickly rose $0.10 the next two hours and reached the daily high of $1.50 before slowly correcting the rest of the day.
For What It’s Worth
Many think day trading is wrong. In my opinion they are right and wrong at the same time. Who am I to say the time length of the average investment is right or wrong weather it be one hour, one day or 10 years. Everyone has their own time frame and financial goals. Bottom line is Profit is king in the largest money game in the world and I’m very proud to be a part of it. Unfortunately it’s filled with so much corruption and greed you don’t know who to believe. The main culprit -Mass Media- I have watched week by week as the media has fed the public mixed signals about gold. “Gold to reach $2,500 this year” “Sell your gold now”. “Watch out for the wedge” While I cannot say every article is meant to deceive but I think most of these projections are more like self fulfilling prophicies that come true because they are fed to enough people at the right time. When Goldman sachs downgrades a stock what’s going to happen? You better believe the right people are going to know ahead of time….and it’ not going to be you. When they give a price target and everyone thinks it’s going to hit then chances are if enough people think it will, then it will. Why did we have to wait until the close of the market to find out the recent EPA decision? So the right people could make the right moves? Kind of like knowing the right lottery numbers 24 hours in advance. The market works on fear caused from greed. The instutional day trader knows which stocks are filled with emotion and pray on them. An instutional trader may sell hundreds of thousands of shares in the first 20 minutes of the morning causing the stock to drop low enough to cause a breakdown due to panic and fear only to buy them back at a cheaper price and when the market corrects after the low they’ll spend all day selling them back to you. One may give a book value for a stock but the bottom line is the only monetary value you can put on a stock is what the buyers and sellers think it’s worth at that exact moment (bid/ask)….. Now with all this greed and corruption taking place around us, who is to judge me for making profit from an honest trade that was placed because of my educated guess and not because of fear or greed. While I hate to see our money on such a rollercoaster if day traders are at work here it may not be all bad due to the fact they may be keeping the volume and interest in this stock up while we wait for the decision……
Thanks for the many great conversations and your input…. If you would like to be a part of our future trading room please fill out a short form located on the Trading Room page. This board invite only and is not open to the general public.
When I first started out in carpentry almost 20 years ago my boss told me if you want to make money in this industry then you have to specialize in one area. So I started my own company framing houses and have done well. I am adopting the same strategy with the stock NAK and have decided to follow it my whole life. You will never be able to totally predict the way a stock will move but if you watch it long enough you can start to learn its behavior and when the fog clears ever so slightly you will have a better idea on when to pull the trigger.