Yesterday's panic is today's sheepish grin, as the market admits, "Yeah we know things are bad, but we might have overreacted yesterday, ok?" LIBOR is up again at 4.33%. It's rather academic because nobody's lending new money to anyone else, but those with those "LIBOR plus XX%" credit lines are paying for the crunch, though. Not good.
SLV has decided to go in the right direction after fading late yesterday. You go girl. Still holding.
Spot copper up 3.5% is very good news. Spot copper at $2.73/lb isn't so hot. After yesterday's $2.60 printed, I'll take it as a glass half full. FCX up 6%, PCU up 8%.
Amerigo Resources (Aaaaaaaaargh.to) now down at $0.81 on low volume. If you're brave enough, this is one of the cheapest things out there today. I'm chicken.
Breakwater (BWR.to) continues in its role of 'Zinc On Steroids". Up 11% right now, and was up 20% this morning. Have a look at how far it fell yesterday. Spot zinc broke through that very tough 0.75/lb barrier yesterday and slumped to 0.70. However it's springing back today, and if it climbs over 0.75 quicktime it'd be bullish.
Corriente Resources (CTQ.to) up 6.5% at $4.43 and continues to impress with its share price action. Every time it falls on a panic seller or two (see yesterday) it just picks itself up, dusts itself down and pops back up on low volumes. The most logical conclusion is that there are no serious sellers, which can only be good.
And on the subject of Ecuador stocks, I've come to the definitive conclusion that Dynasty (DMM.to) is dirt cheap right here. Not without risk (goes without saying) but offers tremendous value on the Ecuador mining law publication due out this month. I've procrastinated on this stock for lord knows how many months, but on revisiting the numbers recently it looks value-packed under $3. Buy some here and sell at $4.50...what could possibly go wrong?!?!?!?
SLV has decided to go in the right direction after fading late yesterday. You go girl. Still holding.
Spot copper up 3.5% is very good news. Spot copper at $2.73/lb isn't so hot. After yesterday's $2.60 printed, I'll take it as a glass half full. FCX up 6%, PCU up 8%.
Amerigo Resources (Aaaaaaaaargh.to) now down at $0.81 on low volume. If you're brave enough, this is one of the cheapest things out there today. I'm chicken.
Breakwater (BWR.to) continues in its role of 'Zinc On Steroids". Up 11% right now, and was up 20% this morning. Have a look at how far it fell yesterday. Spot zinc broke through that very tough 0.75/lb barrier yesterday and slumped to 0.70. However it's springing back today, and if it climbs over 0.75 quicktime it'd be bullish.
Corriente Resources (CTQ.to) up 6.5% at $4.43 and continues to impress with its share price action. Every time it falls on a panic seller or two (see yesterday) it just picks itself up, dusts itself down and pops back up on low volumes. The most logical conclusion is that there are no serious sellers, which can only be good.
And on the subject of Ecuador stocks, I've come to the definitive conclusion that Dynasty (DMM.to) is dirt cheap right here. Not without risk (goes without saying) but offers tremendous value on the Ecuador mining law publication due out this month. I've procrastinated on this stock for lord knows how many months, but on revisiting the numbers recently it looks value-packed under $3. Buy some here and sell at $4.50...what could possibly go wrong?!?!?!?
DYODD, dudes.