Crosshair Exploration & Mining Corp. – Should I be selling?

by JDH on January 20, 2007

The biggest loswer in my portfolio is CXX.V – Crosshair Exploration & Mining Corp., which is down 23% since I repurchased it back in December. Obviously I should not have bought it. As the chart below shows, the long and medium term blue uptrend lines remain intact. Depending on how you draw the final uptrend line, it may or may not have been broken.

Normally I would sell a loser like this, but I’m hanging in a bit longer, for the following reasons. First, this is a very small holding in my portfolio (around 1%), so a big loss won’t hurt me. Second, I still hold out hope that the The Dines Letter will recommend it. Finally, there were some interesting comments posted by undrdog on the Forum this week, stating basically that the Stochastics and Money Flow looks good, and the company is still fundamentally sound.

I would not be a buyer until the uptrend has clearly resumed, but I’m also not going to sell pending further developments.


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