Thursday, September 4, 2008

Trading Post


US unemployment jumps, back-to-skool sales basically sucked, the Dow drops 200+ points......and (roll on the drums) the dollar reacts by moving up. That makes sense..........

Fortuna Silver (FVI.v) at $1.00. Gotta laugh, as 50c of that is ready cash at bank. A good reminder about how stupid investors really are sometimes, even the bigger ones.

Bovespa (BVSP) down 3.2%, and EM stocks in general continue their time over at the woodshed.

Petrobras (PBR) down 5% at $45. I'm even starting to feel a little sorry for Arjun Murti, the Goldman Sachs dude who called the oil spike but is now guilty of banging on the table about PBR. He's now way underwater on all his repeated calls to buy PBR this year. You're only as good as your last trade, Arjun*.

Mercado Libre (MELI) down 7% at $26. Recently there have been some idiots trying to start rumours about E-Bay wanting to take a larger portion of MELI. It's total bull. Don't fall for it.

Jaguar Mining (JAG) has just gone under $6. I'm glad I missed this falling knife.

Breakwater (BWR.to) at $0.28. I bought at 0.29 this morning, and thought I'd been everso everso clever not to pay the 0.30 and 0.295 offered at the open. Wrongo! I'll suffer it to a maximum of 0.265 and then puke if necessary.

*note to Otto: please look at your own repeated calls on FVI.v