Well, Taskeo (TGB) did not follow the same path as Eurozinc (EZM) and bounce back after the decline on earnings day. Therefore, I took my loss and exited my position as planned. Eurozinc held fairly steady during the market sell off on Friday, and I sold for a profit in that position. I am holding cash now until the market direction proves itself more thoroughly.
I did not add shares of Taseko at the market on the day after earnings because the bid/ask prices prior to the market open were very low, indicating to me that the sell-off would continue. That was a very good move on my behalf…maybe some luck involved there as well.
The overall health of the markets is still concerning me and I am going to try to ascertain a trend direction as several support areas and moving averages of the major indexes were slashed this week. It will be interesting to see if investors rally to start the week and even more interesting to see if that action will continue through the week.
I did come to a purchase conclusion on the duplex and I will be meeting with my lawyer on Monday to finalize the transaction. Below is a picture of the building…What do you think?