Michael Purchased 5,000 Shares of IMAGoldMiner Inc

Michael purchased 5,000 shares of IMAGoldMiner Inc. in May for $0.55 each. He purchased 5,000 more at $0.75 cents in June and another 5,000 for $1.02 in July. In October, IMAGoldMiner began production at its new gold mine and Michael was able to sell 5,000 shares at $2.05, another 5,000 at $3.25 and the remaining 5000 at $4.50. In this instance, Michael

A) is trading on fundamentals.
B) profited by momentum trading.
C) is diversifying his investments.
D) traded based on future expected profits.