Lets shred up your last post line by line: Your comments in RED, mine in BLUE:
There are lot more factors that are behind a stock move. RRSP contribution is just one factor in flow of funds into stocks. Duhhhh. The major contributing factor at this time of year for the general market are retirement funds, in Canada Dec - Mar, internationally later. One day spikes due to an oddity of news does not even put a dent into a steamroller.
Flow of funds because of RRSP may or may not move the overall markets even if they move the markets it is not necessary that every stock would spike, some may still stay flat or even may drop. Where did I say every stock would spike due to RRSP activity? In fact, I discretely specified (you havent read all my posts again), that ELR is a giant in the banking conglomerate offerings this time of year, part of the AIM organization, etc., not too common.
I had bought in Dec & have being monitoring the stock. The price movement is not entirely new RRSP contributions. The sellers were exhausted. The stock movement is MAINLY due to retirement investment activity. What kind of statement is that - "the sellers were exhausted"? No they weren't - the buyers were massive, thats all.
Todays bounce is related to the bounce in commodity price. Possibly part of todays bounce was due to a random fluke bit of news. So it amplified the RRSP effect. You seem to be focused on 1 day to justify your general argument. What about the other 30 days of the SP rise? If that news item had not occured, it would have taken 3 days instead of 1 - big deal.
Based on your comments I would classify you as an amateur investor. You have to learn lot more about stocks & factors that contribute to the movement in share price.I have been in the stock since Dec. I have tried to flip the stock from time to time because of big spikes & overbought position but has not worked so far.
Who's the amatuer here? Your strategy is not producing the maximum results. I think you're the amateur here. I can trade circles around you old timer.
This does not mean that I will not do that in future or may still not work. I did not lose money but may have reduced my profits in terms of commissions & at times small repositioning spreads. I was hoping to do better than I have done so far in this stock. Buy & hold would have been a best choice. Yes, i told you to do that in mid-December on the board, but I guess I'm just an amateur.
I constantly assess my performance & try to learn from my experience & mistakes. Over a year ago when the stock was stuck in a range I use to trade it very successfully. When it broke the range upward I gave up & lost interest & when it even broke down I did not touch it. This stock was in my tax loss selling buy list. I had initially bought it for a tax loss trade only this Dec. WAH, WAH WAH, CRY ME A RIVER
Now that the Platinum price has popped I am changing my thinking about this sector. Who would have known that there would be major cut in production of Platinum today & a massive spike. If you had known that ELR was part of so many international and national conglomerates and AIM, you would have changed your tax loss strategy and made a heavy investment in December. Today was 1 day. the SP has moved up for a month before today.
Sometimes stocks moving up from their rock bottom prices are simple hold till they achieve a certain price level. With the commodity price improving I have to consider this stock for more than just trading now.The stock has the potential of multiplying from here, lot depends on the commodity price & the break even point for ELR. Still this stock is not going to run up in a straight line. Today there is lot of hype in media about Platinum. I told you that in December, but not for your reasons. It has little to do with commodity prices, as evidenced by the run up in December. I think your old concepts of how to do stock trading need to be thrown out the window - i'm guessing you must be really old and tired - maybe time to buy an RRSP and retire?. Just by a stroke of good luck today, we have an announced platinum shortage. \that will amplify the "straight line effect". Bye the way, I never said it will go up everry single day - in fact, I stated a "gradual" rise (again, you didnt read my posts).
I am also looking at other plat stocks too. Uhh, ok, but if you need a list of stocks that are heavily weighted as RRSP conglomerate offerings, send me an e-mail.