I have to admit that my plan don't really work here..
Another red day, five days losing streak, albeit firmer lead from the wall street and rossy economical condition at home.
Just managed to own 3 green stocks today: AGM, OXR, and MGX.
PNA was the worst performer, as profit taking were happening (I should have sold mine earlier.. should have seen this coming). SDL was very bad also.
There was a news today on Allegiance (AGM):
Basically Allegiance Mining's major shareholder, China's Jinchuan, has backed AGM in rebuffing Zinifex's unsolicited takeover offer.In a letter of support issued to the Australian stock exchange today, Jinchuan, which has a 10.4 per cent stake in Allegiance, said the offer undervalued the target.
“With its near-term production profile and highly prospective nickel province (in Tasmania), the vast majority of which remains unexplored, Jinchuan believes there to be significant further upside in Allegiance; and therefore the $1.00 per share offer for Allegiance is not reflective of the true value of the company,” Jinchuan said. “We strongly support the management and board of Allegiance and believe they are creating excellent value for shareholders and jointly, we will continue to do so.”
Jinchuan has an agreement to buy all nickel produced at the mine.
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