Wednesday, July 27, 2011

Bear Creek (BCM.v): Nice Mr. Market gives you a 2nd chance to go long

Just when you thought it had run away from you, Bear Creek (BCM.v) gets whacked by quantity of people heading for a small exit door and and gives people who care about fundies more than momo a second chance to get in at way discounted prices.

Not quite as discounted as The IKN Weekly entry point of $3.80, but still the $4.65 I just saw printed offers great value. Don't say you weren't warned, but DYODD anyway.

PS: Looks like Iwnattos at Market Narrative called the dumpage on BCM.v well and bailed just before the worst damage. I've always admired trader-y types, those with a better sense of the very-short-term than I, but I'm not a jealous guy either. It's just a case knowing what I'm no good at and avoiding it. Kudos, Iwnattos.

Disclosure: Long BCM.v at $3.80, just in case you couldn't be bothered to read the above correctly. Happens more often than you think too.