Hello everyone,
Haven't posted very much in the past few weeks. Frankly because I've been sick looking at the overall market, my porftfolio and my ROF holdings. I'm down close to 70% with my holdings and thing seem like they're only going to get worse before they get better. Let's just hope that they improve sooner or later. I just need to keep telling myself to be patient.
Well on to the heading of this post "Well, I did it." After about a month of debating, talks with brokers and friends I've decided to move my RSP into NOT. Those who I've talked to in the past know my situation and know how old I am (24yrs). Obviously anyone who knows RSP's know that my contribution limit couldn't possibly be that high, and I have by no means had the funds to max out my contributions on a yearly basis. I have about $3,000 in my RSP and decided that I would take the chance and move into NOT shares. I bought in around $1.35 and am hoping I made the right decision. Even if not goes back up to the $3.00 range then I should see my RSP rise quite significantly.
For those who think I'm crazy and think that moving my RSP into something as volatile as the stock market (especially during these times), then I say to you, so be it. I believe in NOT, I believe in the ROF and by doing this, I know I will see the NOT story unfold to the bitter end. With my non-registered shares I will wait until we hit the $20-$30 mark whenever that may be and then I'll need to jump ship to pay off my loans and use the rest for the downpayment. Those RSP shares however will see NOT climb over the $50, then the $75, and who knows, maybe even the $100 mark (Can anyone say Voisey Bay). Once that happens, I'll move my RSP back into a bank and have it managed again and I will reep the rewards by putting it into bonds or dividends.
The ROF story is only getting started. We're getting ahead of ourselves by thinking that this is going to be a quick buck and to be honest, I hope it's not. Take the time to unearth what we've found and then sell out to the big boys. We'll all be sitting much more comfortable if that's the case.
Good luck Ladies and Gentleman, stay strong.
- Kennedy
