Short Term Trade – Katanga Mining Limited KAT.TO

Short Term Trade – Katanga Mining Limited KAT.TO

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I hold many long term positions – I also enjoy doing short term trades.  It keeps me engaged .

One of the stocks I  currently own for a short term trade is Katanga Mining Limied ( KAT.TO ) . I first heard of this company from BNN. At that time  I wrote about it and saved it as a ticker I need to do more research on.  From the actions I have outlined in that post I have only  done one thing. Watch the stock price daily movement. Based on the price movement I bought 16,928 shares on August 2nd 2017.  This was a purely a technical trade based on the range I have seen the stock trade at.

However, I feel I may have caught a break today. Tesla reported earnings on August 2nd and it beat estimates. Cobalt is a metal that is used in electric cars – so this stock may get a boost today from Tesla’s results. I have set a sell order for today expecting a 10% gain – if that doesn’t execute in the first few hours of today I may adjust and just be happy with a few hundred dollars on this trade.

 

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