Just to put it on record.
The Freddie and Fannie news is going down well, by the looks of the futures market, anyway. That makes sense; Wall Street always applauds when the big guys get bailed out and the little guys get screwed....tis the way of the world.
The dollar has rallied bigtime and sits at 79 and bits on the USD. That makes sense in the first phase of a serious rebound, and it's taken the very-short-term shine off the PacRim metals rally last night. I'd expect the dollar to peak and reverse as the real money exits bonds and finds homes in equities. That's when commods will really rally; that's the moment when people will go "hey...recovering USA means they gonna buy more stuff again, dude. The dollar going down, dude. Hey, dat means copper's gonna go up, no?" or something similar.
Anyway, I like boarding trains while they sit at the station and I don't like trying to scramble on once they're moving. Buying FCX, PCU, ARG.to (Amerigo), CS.to (capstone).
Have fun , and DYODD.
UPDATE: Talking of Capstone, this just crossd the wires. This is what I call a very smart business move. Grab onto CS.to with both hands. Click right here to read the whole PR, as it includes important terms and conditions not included in the fist paragraph pasted here.
UPDATE 2: Bot FCX at 74 (this is not a ST trade). Can't get filled on ARG and CS yet. Haven't got round to PCU yet, but as it looks like the early doors euphoria is wearing off, waiting a bit longer might be wise.
The Freddie and Fannie news is going down well, by the looks of the futures market, anyway. That makes sense; Wall Street always applauds when the big guys get bailed out and the little guys get screwed....tis the way of the world.
The dollar has rallied bigtime and sits at 79 and bits on the USD. That makes sense in the first phase of a serious rebound, and it's taken the very-short-term shine off the PacRim metals rally last night. I'd expect the dollar to peak and reverse as the real money exits bonds and finds homes in equities. That's when commods will really rally; that's the moment when people will go "hey...recovering USA means they gonna buy more stuff again, dude. The dollar going down, dude. Hey, dat means copper's gonna go up, no?" or something similar.
Anyway, I like boarding trains while they sit at the station and I don't like trying to scramble on once they're moving. Buying FCX, PCU, ARG.to (Amerigo), CS.to (capstone).
Have fun , and DYODD.
UPDATE: Talking of Capstone, this just crossd the wires. This is what I call a very smart business move. Grab onto CS.to with both hands. Click right here to read the whole PR, as it includes important terms and conditions not included in the fist paragraph pasted here.
UPDATE 2: Bot FCX at 74 (this is not a ST trade). Can't get filled on ARG and CS yet. Haven't got round to PCU yet, but as it looks like the early doors euphoria is wearing off, waiting a bit longer might be wise.
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| Press Release | Source: Capstone Mining Corp. |
Monday September 8, 9:19 am ET Management Teams to Combine Assets, Skills & Production in a Highly Complementary Transaction
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 8, 2008 -- Sherwood Copper Corporation (CDNX:SWC.V - News)(CDNX:SWC-DB.V - News) and Capstone Mining Corp. (Toronto:CS.TO - News) have entered into a Letter Agreement to combine, by way of a plan of arrangement or other form of business combination, to create a well-funded, low-cost, growth-oriented, copper company with two producing mines in mining friendly jurisdictions in North America. The two companies have agreed to combine on an "at-market" basis whereby each Sherwood shareholder will receive 1.566 shares of Capstone (based on the 20-day volume weighted average share price of the two companies). The boards of directors of Sherwood and Capstone have unanimously approved the terms of the transaction