"If you won't take a profit when you've got it, that leaves one alternative, which is to take a loss." – Robert J Moriarty." Snowline Gold Corp. (SGD:CSE; SNWGF:OTCQB)
We have done well with this one, buying it the points shown on its latest 6-month chart below, and because it has a habit of spiking rather dramatically higher and then dropping back more slowly, it is considered prudent to TAKE PROFITS IMMEDIATELY.
Could it continue higher after we sell?
Sure, it could, and if it rallies again in the early trade today, it will give us an opportunity to sell into strength, and if it carries on even higher after we sell, we won't be concerned because there are plenty of other promising PM stocks where we can immediately deploy the freed funds that are less risky than this is becoming, and we will be looking at some of them as the day progresses.
Snowline Gold's website.
Snowline Gold Corp closed at CA$3.65, $2.58 on June 5, 2023.
Originally published on clivemaund.com on June 6, 2023, at 9:10 am EDT.
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The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.