Profit taking in the smallcap juniors seems to be the order of the day, with gold trading as "low" as $1361/oz at one point before bouncing. Copper at a mere $3.80/lb, too...wowsers, I bet those mine managers are worried about profit margins.....
Rio Alto (RIO.v) down 4.4% at $1.31 with $1.27 the low this morning. The trouble with quoting in Lima is that you have to suffer the neuroses of Peruvian investors that can't seem to understand that stocks don't always go up the moment you buy them.
Fortuna Silver (FVI.to) down 0.6% at $3.31 on the back of yesterday's production results (analysis of those coming up Sunday). Well blow me down, IKN subscribers are only up 294% on the original bang-on-the-table May 2009 reco at 84c now. Bet they're worried about where the next meal is coming from, too.
ECU Silver (ECU.to) down 2.8% at $0.70 and sadly for Mexico Mike his sponsors stock is still underwater for the year...silver at $23/oz, too. Hey Mikey, why not pump your site sponsors stock to your naive flock again? You never know, it might just work this time :-)
U.S Silver (USA.v) down 3.9% at $0.49. This stock has been on the most tremenous run recently and was trading as high as 59c just yesterday. Looks like some chunky profit-taking going on here and is steep for sure, but those long shouldn't be sweating on this too much. It was getting way overbought on the charts, thta's for sure.
Alkane Energy (ALK.L) down 2.0% at 17.88. This is one of the stocks pushed at readers sans-cesse over at Tracy 'Goldilocks' Weslosky's corporate-sponosred pump site, Rare Metals Blog. Some commenter named 'casual observer' who gets a free ride to say whatever s/he wants will always manage to find a way of extolling the company's virtues to the blog's readership, but whenever a dissenting voice is added to the comments section it's immediately censored out. So let's check on how this dog has traded over the last five years:
Yep, basically nothing doing at the same time as the biggest rare earth rally in history. So what gives, Goldilocks? Who's the pumper and what sort of affiliation do they have to the company they constantly push at your sheep? Inquiring minds..... Oh yeah, Alkane just happens, coincidentally, to be a site sponsor over at Rare Metals Blog. Strange, innit?
Meanwhile, we're now on day three of "Goldilocks Legal Action Watch" and still nothing heard from the wannabe bully and paid pumper Tracy Weslosky.
UPDATE: Ah whoops, crow to be eaten here. Commenter anon (original) leaves this below:
A nice recent move (though 6.6% off today). We can therefore use the flipside of the coin and congratulate 'casual observer' on his successful pumping :-). I'd still like to know their affiliation to the company, mind you. Goldilocks, any idea on that?
UPDATE: Ah whoops, crow to be eaten here. Commenter anon (original) leaves this below:
The company that sponsors RareMetalBlog and which has been mentioned by "Casual Observer" over there, is Alkane Resources (ASX.ALK), not Alkane Energy.Which just goes to prove how little your author knows about REEs. So let's check on the correct company's 5 yr chart:
A nice recent move (though 6.6% off today). We can therefore use the flipside of the coin and congratulate 'casual observer' on his successful pumping :-). I'd still like to know their affiliation to the company, mind you. Goldilocks, any idea on that?