Week 4 Portfolio Update
I got smacked around along with everyone else last week, losing about 5%. Still I am up almost 3% since inception 4 weeks ago. I tried to use the volatility to reallocate money towards the stocks that are working the best, and away from what has not been working.
I sold out completely of OceanaGold and Klondex Mines. I’ve talked about the former in a post already; of the latter it is a mine not yet producing, and so prone to problems, and as I felt the debt ceiling problems would be resolved I did not want to be too overweight in gold stocks.
I sold out of Novus Energy, which had less to do with Novus and more to do with Second Wave and Coastal, which I wanted to money to add to. I also sold out of Newcastle Investments in favor of more Oneida Financial. I gave my thoughts on Oneida in the last post.