Thursday, August 18, 2011

Tug of war

General WeAllGonnaDie type panic in the broader markets doesn't seem to be spreading to the junior far at least. For sure the base emtals issues are under more pressure (e.g. check out under $4 again) but for the PM names, there's a tug or war going on. Do they sell off with stock or do they rise with bullion?

I'm off out to spend time with the wife now so won't be watching the show, but it'll be interesting to see how our chosen sector holds up (or not) today. What I will say right now is that, once the waves of panic are done it'll be very bullish for juniors if they've held on to most of the gains since the very recent market spike low (all that US debt ceiling and S&P thing, remember?). Even the TA lovers would agree that higher lows are cool.

Anyway, enjoy the fun and catch you later.