Getting A Beating

I haven't updated this blog for about three weeks. Things happened, and some of the shares in my portfolio went south. I can easily list these shares, as even Tassal Group (TGR.ASX - who's so far is one of my best investments) went down in its price. I guess this downturn was partly contributed by the selling in June by investors for tax loss purposes.

Tassal Group went down to as low as few cents under $3 from above $3.30. I'm hoping that their worst is over now. I managed to pick up some more at $3.04, and so far it's going up again to $3.32... thanks God!

Another share that was quite solid, Industrea (IDL.ASX), was also experiencing a downturn. It share price went down from $ 0.45 to as low as $0.35. I was a bit itching to pick up some more, except that I was not very keen to take the risk.. IDL share price went up again to $0.44 on yesterday's closing, after the anouncement of securing $75m acquisition war chest from Cornell Capital Partners (a leading US Investment fund) and Australian NAB. I guess this was saying a lot of confidence on Industrea's acquisition strategy. Previously, Industre made four successful acquisitions of: Qvent. Ltd (including operating subsidiary Omni-Quant - which they just sold); Advance Mining Technology Pty Ltd.; Wadam Industries Pty Ltd; PJ Berriman & Company Pty Ltd.

Unfortunately, I have to let go of Allegiance Mining (AGM.ASX) and Glengarry Resource (GGY.ASX). Allegiance's share price is experiencing a massive downturn, part of it due to the lower nickel price. Share price went down from $1.185 to a lot lower than $1. Allegiance closed on Friday at $0.805.. I sold out my holding at $0.88, taking my loss of 0.16 per share as I bought them at $1.04...

Glengarry was not a better story. After it reached it's peak at $0.24 it went down and down to 0.12... Now I'm holding quite a few of this stock, and kept holding it, my excuse was that I was waiting for the result of their Greenvale drilling. I was not patient enough, as my loss is getting bigger and bigger, so I sold out mine, in the ground of cutting the lost - well, just ONE day before the result was anounced!!! So I missed the 24% increase of their price just by a day....But anyway, GGY could not sustained that price ($0.155) for long, and start to go down again for the past few days. I bought GGY at $0.175 and sold my holding at 0.125, for a loss.

Other than the beating, there were also some nice stories, OXR performed quite well for the past weeks, also REX and PNA. The performance of DYL was not too bad, and even THR seems to be getting ready for its run. Giralia... Hmm not so much movement..

I add my portfolio with few shares of Beach Petroleum (BPT.ASX), and picked up some more of PNA and THR.. Will see how things going on Monday...

Cheers! Happy investing!