Wednesday, 22 September 2010

pension heaven

Wow! I was not expecting this: http://af.reuters.com/article/metalsNews/idAFANT24567320100922

One of my goals is to create my own pension pot. An ambitious, slighty insane scheme to out do regular pension plans by investing in shares.

I've made a bunch of mistakes over the last year, the most frustrating recently when I failed to spot a pump and dump of BMR. I could have sold at a 50% profit but had to settle for 7%.

Selling BMR this week I bought more AAZ. My first purchase was at 16p, second at 21p. I've held the stock for months, wondering if I'm doing the right thing as my initial gains evaporated but eventually came good. I believe this stock is worth 60p to £1 a share and bought yesterday at the peak of another mini spike. It just rocketed up another 24% today!

I still haven't worked out a proper exit strategy, I need to do this soon but for tonight at least one goal is on track.

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