Wow, did you watch silver drop too? Impressive. There I was, thinking about whether SLV would get down to $11.50...suddenly it did, and I reached for the trading account. Before I could log in it was $11.20 and dropping. So i put in a stink bid at $11.00, and it filled before my very eyes. Now long, and glad I held off yesterday. Sometimes pure luck plays a significant role in trading, and I got lucky (only remains to be seen if the thing rebounds). It feels quite nice to take a trading position again...kinda edgy without being too risky. Already up 16c a pop though.Amerigo Resouces (ARG.to) down 13% at $0.90. Time to re-name this one AAAARGH.to, which is a bit unfair because all that's wrong with the company is spot price. 3q08 may turn out to be the first quarter in a long time that doesn't turn a profit.
Hey wow...see my MELI call of "buy between $20 and $22" yesterday because it's "likeable" at this level? Here we are at U$17.50, down 14% today. This either means that a) it's even more likeable now or b) Otto's timing still sucks, especially at this stock. It probably means both, thinking about it. There's no reason for this selloff, and volume is low. My best guess is some forced sale or a panicky holder (plenty of those about).
Spot copper continues to puke loudly, and now stand at $2.70/lb. FCX and PCU are down another 10%+ each. As PCU is a major component of my LT portfolio, I'm taking the most sensible measue possible, namely curling up in a corner, sucking my thumb and refusing even to open the LT account page.
Crystallex (KRY) down at at $0.70. Only another seventy cents to drop before this stock finds its true equilibrium value (this message goes out to the private KRY board that keeps copypasting my posts on their site).
A special mention for Gold Hawk Resources (CGK.v) which is the only green on my screen right now. Word from the deep jungle drums is that there's news coming next week from the company.