This thread tracks real trades in one of my portfolios. Refer to backgrounder for more info.
Nothing really to write home about this week. Bought Brazilian natural resource producer Companhia Vale do Rio Doce (RIO) on Monday. It is the world’s largest Nickel producer and ranks among the top producers of Iron Ore. Nickel is under a tremendous supply deficit from rising demand from the world’s largest nickel consumer – China. This has led Nickel’s price to almost triple in the past year. Usage in China may grow 28.5 percent this year. Most Nickel is used to make stainless steel.
As the world’s largest Nickel producer, RIO has benefited. Its stock is up 24% year to date.
Unfortunately, the purchase on Monday was followed by two down days and it was sold for a slight loss. False starts comes with the territory. As long a losses are small, we survive to see another day. I will be looking to get back in – if we can get a little upside momentum.
For the week, the portfolio was down -0.4%. Here is the updated log.