Wednesday, November 5, 2008

Trading Post (and on the seventh day he rested edition)

Southern Copper (PCU) has rebounded in biblical style over the last six sessions...

..... and Freeport McMoRan (FCX) has done well, too. Both are down today (PCU down 8%, FCX down 6%) and we can blame it on the spot copper dump for sure, but the recent climbs of both stocks have been good to see.

Malaga (MLG.to) up 0.5c at $0.11. This small Peruvian tungsten producer is still definitely on my list of microcaps to follow, and although it dropped away from the recent 15c level the stock seems to be waking up at long last. Tungsten demand and pricing has been strong through the crisis for other metals.

Brazil is having a rest day, too. The Bovespa (down 3.6% today at 38k) had jumped from 30k to 40k on the recent (and very welcome) rebound. Stocks taking a breather include NETC (down 3.3%), PBR (down 6%) , CZZ (down 3.4%) and ITU (down a more concerning 12%).

Another cheer for Dynasty Metals (DMM.to), up another 5% at $1.62 this morning. If this stock doubled it would still be cheap. And if Ecuador just said "ok guys, go do some mining" it would likely double again.

Oh yeah..nearly forgot...FVI.v up another 10% today :-)