Portfolio Update – Week ending 29th May, 2015

Summary

Another mixed bag this week for my portfolio – most of my stocks were down this week, including a big climactic sell off for my (now former) biggest holding AJX. However, the small to modest falls throughout most of my portfolio was more than made up for by a breakout performance from the stock I have been most bullish about – CKK (which now changed it’s code to LWP due to a company name change). I have LWP (CKK) solely to thank for my portfolio being significantly in the green this week.

Major changes to my portfolio this week include closing out one of my positions (MAT) and acquiring a new position (DCC). More below:

AJX

After mentioning last week that the chart looked terrible and AJX was in danger of breaking down below the last ditch support, the capitulation finally happened with a fall to as low as 44.5 cents. For the first time since first buying AJX, I experienced a period this week under water. Short term support kicked in at 45c but I’m expecting further pain shortly following a short term relief rally.

It’s now in the territory where I will be looking to top up should funds become available.

AJX Candlestick Chart 31-05-15

Daily AJX candlestick chart as at 31-05-15

CKK (now LWP – Light Weigh Propant Technologies)

What a week for CKK! This is the classic example of how putting in the hard yards and doing your research and getting set early can really pay dividends. The break out I had been waiting for finally occurred and this past week has seen HUGE volume. Breakout above the long term 1.5c resistance occurred on Wednesday before hitting a peak of 2.5c, making my 0.6c average buy in look very nice. We have since seen a back test of the 1.5c resistance and it will be interesting to see if former resistance now becomes support.

CKK presented at a large U.S. Oil and Gas related symposium over the weekend so I am hoping that will have garnered some US buying.

As a side note, CoreTrack has changed it’s name to Light Weight Propant Technologies and is now trading under the LWP ticket. From now on I will be referring solely to LWP.

Daily CKK chart as at 31-05-15

Daily CKK candlestick chart as at 31-05-15

CKK chart 31-05-15

Weekly CKK candlestick chart as at 31-05-15

AZK

AZK confirmed a low is likely in, at least in the short term. Friday provided the first decent bounce we have seen since the prolonged retrace from all time highs. Volume is building and I expect this run to continue, at least in the short term.

I am going to consider trading my remaining stock short term due to the high levels of liquidity and volatility and will keep you up to date as to how this goes. In the mean time, I’m expecting a test of at least 26 cents this week, possibly as high as the low 30 cent region.

AZK Candlestick Chart 31-05-15

Daily AZK candlestick chart as at 31-05-15

MAT

I ended up selling the remainder of my MAT holdings this week. I closed out my position for two main reasons – a) I needed to free up funds to make a new purchase and b) because I didn’t like the selling pressure I was seeing with drilling results imminent. Often in resource stocks, selling pressure with results imminent often indicates the drill bit has not hit anything significant. Should I be wrong and results come back positive I will be looking to re-enter my position.

Overall I managed a 42.5% gain with MAT for a two month hold – not a bad overall effort and I am happy with my medium term trading decisions in this case.

CL8

CL8 confirmed the failed break of the pennant formation this week and I ended up selling more of my position. I still have a small holding but will be looking to exit on further signs of weakness, however I feel a bounce is due soon.

Daily CL8 candlestick chart

Daily CL8 candlestick chart as at 31-05-15

CYY

CYY had a solid week, rising 10% overall. The company now has it’s finances sorted and work is starting at it’s highly prospective Caribou Dome project in Alaska, meaning we will have a plentiful supply of news flow. Historical exploration at the site has identified significant copper hits with as high as 10% Cu and with the exploration sector showing signs of life (finaly), I’m betting we will see a significant re-rate of CYY sometime this year.

We have seen a slight increase in volume over the last 3 weeks. This accompanied by rising OBV and Money Flow signals someone has been accumulating stock.

Daily CYY Candlestick chart 31-05-19

Daily CYY Candlestick chart as at 31-05-19

I added significantly to my position this week and intend to add significantly more to my holding in the coming weeks and months. Liquidity is almost non-existent at the moment so acquiring a position will take patience, but I’m expecting at CKK type event sometime this year, so I’m willing to put the effort in.

CYY work schedule

Upcoming CYY work schedule should see consistent newsflow over the coming months.

DUO

Same as last week – still well and truly retaining its dog status. Will stay the same until it sorts its captial structure out and acquires a decent project. Only continuing to hold because I screwed up and didn’t have a stop in place and now it’s not worth selling.

TTE 

The negative divergence mentioned in last weeks update reared it’s ugly head and TTE droped below it’s rising trend line. I believe the fall was mostly caused by the issue of a minor number of shares at a heavy discount to directors (at 2c), rather than any fundamental factors, hence I’m holding as I expect a bounce from this zone of support, likely back above the rising trend line. Time will tell whether this was a good move or not.

TTE Candlestick chart

Daily TTE Candlestick chart at 31-05-15

AQD

Quiet week for AQD, nothing really to report. Watch, wait and see at this stage.

Last weeks new additions: RVR and EDE

EDE – in hind sight I should have sold last week as I took a position as a short term trade only. This is a classic example of what can happen when you don’t stick to your initial plan. Price reached a high of 2.6 cents last week which would have given me a three day profit of over 50%. Instead, I held on waiting for further gains and EDE has since experienced a significant retrace. The gap is now closed and price is sitting at my initial buy in at 1.7 cents. I will be watching for another bounce this week to provide an opportunity to sell.

EDE candlestick chart

Daily EDE candlestick chart as at 31-05-15

RVR closed the weekly ever so slightly up at $0.205. However, price action saw the break of the short term up trend. I’m expecting a consolidation here for a week or two, likely around the 20 cent level. A recent drop off in volume supports this theory.

RVR candlestick Chart

Daily RVR candlestick Chart as at 31-05-15

New weekly addition – DCC

A took a reasonably unsuccessful position this week in DCC based purely on the technical setup as shown below. Price had been trading within an upward trending trend channel on the hourly chart. I took a position near the base of the channel when a bounce and continuation of the trend looked likely.

In the end the trend failed and the bounce was short lived. Price now appears to be forming a new trend channel. I have my stop loss positioned at the base of the previous low on the hourly and will likely hold until I’m either stopped out or price resumes it’s upward trend and offers an opportunity to sell out at higher levels.

Hourly DCC candlestick chart

Hourly DCC candlestick chart as at 01-06-15

End of Week Portfolio Summary 31/05/15

Stock Average Buy In ($) Weekly Close ($) Last Weeks Close ($) Weekly Change Overall Change (%)
AJX 0.473 0.500 0.630 -21% +6%
AQD 0.022 0.022 0.023 -4% 0%
AZK 0.053 0.235 0.215 +9% +343%
CKK 0.006 0.016 0.008 100% +167%
CL8O 0.011 0.016 0.020 -25% +45%
CYY 0.025 0.022 0.020 +10% -12%
DCC 0.271 0.255 -6%
DUO 0.005 0.001 0.001 0% -80%
EDE 0.017 0.018 0.023 -22% +6%
MAT 0.166 CLOSED POSITION. Average Exit Price = $0.24. Total Profit % = 42.5%
RVR 0.186 0.205 0.200 +2.5% +10%
TTE 0.037 0.032 0.036 -11% -14%