Before the market opened this morning. I posted on my stockhouse.com blog that investors should take some profits. I also mentioned that gold will have a correction either today or tomorrow. Looks like the correction started today. I have sold some of my positions and I have increased my position in "Cash".

Brief Update: For those who bought Sunridge Gold-SGC.v my on recommendation. It might be time to take some profits. Today, we saw the stock up as much as 21.95%. If you bought it when I mentioned it, you would be up almost 100%. I also recommended Sonora Gold and Silver-SOC.v at .48cents. The stock is almost up 100% and it would be wise to take profits. I also sold my position in Alexis Minerals-AMC on Wednesday for a 40% profit. I still like the company but we could see a pull back. I also day traded Gammon Gold-GAM, Osisko Mining-OSK, Goldcorp-G and Jaguar Mining-JAG. They were all purchased on Tuesday and sold on Wednesday for a 4% profit. I will eventually take a position again in Osisko and in Gammon Gold. Both these stock have big upside longer term. I am watching Exeter Resource-XRC as it is starting to look attractive again. Some profits should also be taken on Crocodile Gold-CRK which had a big run up yesterday. Production has increased for the Croc. but cash costs are still alittle high. Minera Andes-MAI which I recommended at $1.13 closed today above $2.00. I still haven't sold any shares. MAI has much more upside and has very attractive projects. The company released great news today and I expect more great news to follow as the start to explore the land next to Andean Resources. Plus, they have Robert McEwen as CEO and a 33% shareholder.

I believe October could be a volatile month, so be selective on your investments and get ready for some buying opportunities. You never know when the ghosts of October 29th 1929 will show up again.

I did buy 2 stocks today that I believe could have some upside over the next few months.

http://www.rodinialithium.com/

Here is the story on Rodinia Lithium-RM.v - Peter Grandich posted this on his site yesterday- Byron Capital Markets put out a note on RM this morning reiterating their Speculative Buy Recommendation and $2.25 price target. The best line is “…we continue to believe that Rodinia, through Salar de Diablillos, represents the best unaffiliated junior lithium brine player in the market…”

Here is an article that came out today stating the Rodinia Lithium could be a take over target.
article: http://www.reuters.com/article/idUSN0517500720101007

Rodinia Lithium is a Canadian mineral exploration company with a primary focus on Lithiumexploration and development in North and South America. The Company is positioned to capitalize on the explosive demand for lithium carbonate expected from the paradigm shift to mass adoption and use of key lithium applications (lithium-ion batteries, glass ceramics, greases, pharmaceuticals, etc.).

Rodinia Lithium has 100% mineral rights to 50,440 acres comprising 534 claims in Nevada’s lithium-rich Clayton Valley in Esmeralda County and is currently in the process of assessing the size, quality and processing alternatives of its Lithium Brine Project. Early estimates put the valley’s lithium deposits as high as 700 million kg, ranking it second only in size to the deposits found in Chile.

Rodinia Lithium expects to develop its Clayton Valley lithium resource into one of the world’s largest strategic, scalable and reliable sources of battery grade lithium carbonate.

Rodinia Lithium’s strategy is an innovative, forward looking mining company with the exploration and production capabilities to market low-cost, high-grade lithium carbonate required by a variety of modern products.

http://www.belosun.com/

Belo Sun Mining-BSX has been my radar for awhile and after todays news release I decided to finally buy the stock. Insider have also been buying shares.
Belo Sun Mining has over 2mil.oz and aprox $7mil. cash and their project Volta Grande is getting bigger.

See news release that came out today: Belo Sun Mining Intersects 31.90 Meters Grading 3.05 g/t Gold Including 14.05 Meters Grading 5.13 g/t Gold at Volta Grande Project, Brazil

Corp.Presentation:http://www.belosun.com/Theme/Verena/files/doc_presentations/Belo%20Sun%20August%202010.pdf

The Volta Grande Gold Project has an estimated indicated mineral resource of 892,000 ounces of gold (20.6 million tonnes grading 1.34 g/t gold) and an estimated inferred mineral resource of 1.4 million ounces of gold (41.9 million tonnes grading 1.05 g/t gold) based on 0.50 g/t gold cut off, as outlined by the National Instrument 43-101