Tischendorf Letter Issue 105 - April 14, 2010

Greetings!

I just sold: ANO - Anooraq Resources @ around 1.58

SWC and PAL two Platinum and Palladium stocks are up 5 - 6% on a strong day for PGM stocks. ANO on the other hand is down 6%. Maybe something is wrong maybe not. I am not going to wait in order to find out. ANO should have shot out of the gate today and outperformed all its peers. The exact opposite happened and the stock clearly didn't meet my expectations. Nothing I can do about it. Overall the chart still looks bullish but I don't mind being wrong and getting back in control instead. There's always another trade and I can always reenter at some later point in time. Taking a small profit and moving on.

Actually I planned to raise my stop loss slightly above my entry today. If you prefer to stay in: don't let a winning trade turn into a losing trade.

Positions:

KIV.V - Kivalliq Energy

PKL.TO - PC Gold

Best regards,

Olivier Tischendorf

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