Summary
Phil Anderson revisits stock calls made in Gann Email #8 (September 2023) — specifically ASX:WIRE (copper ETF), ASX:SFR (Sandfire Resources), and ASX:GOR (Gold Road Resources) — to show real-world outcomes of breakout trading using Gann’s methods. The email uses these three examples to illustrate both winning trades (WIRE, SFR) and a stop-loss exit loss (GOR), building a broader lesson on stop loss discipline, portfolio construction, and the futility of market opinion.
Key Claims
- ASX:WIRE (copper ETF) broke out as anticipated from the September 2023 alert — confidence: high (chart provided)
- ASX:SFR broke above the $7 weekly close level flagged in September 2023 — confidence: high (chart provided)
- ASX:GOR did not continue after entry; Phil marked it as a stop-loss exit (“X” on chart) — confidence: high (chart provided)
- Copper prices historically move significantly higher late in the second half of each 18-year real estate cycle — confidence: medium (asserted by author, consistent with prior PSE cycle theory)
- Taking a stop loss is NOT a losing trade; it preserves capital for the next opportunity — confidence: high (core editorial position)
- Watching the new highs list and waiting for the right pattern is superior to forming a market opinion — confidence: high (stated as foundational trading philosophy)
- When you feel like selling a winning position, buying more is often the correct action — confidence: medium (heuristic, no quantitative backing provided)
Mex Pete References
- ASX:WIRE (copper ETF): Phil explicitly references the “Mex Pete style” breakout pattern — “Buy the breakout yes? Mex Pete style just like Gann showed. Way back in 1923!” A chart is provided showing the breakout as of the week of 24 May 2024. This is a direct application of the ascending/breakout pattern Gann demonstrated using Mexican Pete to ASX:WIRE.
Stock Picks / Signals
| Ticker | Signal | Detail | Status at Email Date |
|---|---|---|---|
| ASX:WIRE | Watch / Buy breakout | Copper ETF; breakout pattern confirmed | Breakout confirmed (chart shown) |
| ASX:SFR | Watch / Buy breakout | Weekly close above $7 flagged Sep 2023 | Breakout above $7 confirmed (chart shown) |
| ASX:GOR | Stop loss exit | Gold Road Resources; price did not continue after entry | Loss taken; trade closed (marked “X” on chart) |
| ASX:CMM | Watch | Capricorn Metals Ltd; flagged in Sep 2023 email, not charted here | No update provided in this email |
- No explicit price targets stated for any ticker.
- Stop loss discipline is emphasised as mandatory but no specific stop levels are quoted in this email.
Predictions / Forecasts
- WIRE and SFR will be monitored in coming months as developing winning trades; further sell-signal guidance promised in future emails.
- No specific price targets or date-based forecasts made.
Notable Quotes
“The biggest secret: realising that your opinion about what you think the market is going to do next is meaningless and utterly irrelevant. And usually wrong anyway.”
“Taking a stop when you have to means you don’t hold onto losing positions and have the capital still available to take the next break. This is the only way I know to build a portfolio of steadily increasing gains.”