Wednesday, March 23, 2016

I sold Banro yesterday for a gain of 31%

I sold my shares in Banro yesterday. I believe that the gold market is going to sell off as it advanced quite a bit since the start of the year. In addition the political climate in the DRC is deteriorating as the current President is giving indications that he does not want to vacate the office at the end of his term.

I have speculated in stocks selling in Africa before and I have seen political turmoil cause big downdrafts in stock prices before. Better to take a profit and reassess at a later date.

I bought the stock on 2/08/16 for $.20 per share and got out at $.29 per share for a gain of 31%.

I suspect after gold corrects it will resume going higher as it appears the almost 5 year gold bear market is ending.

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