What do you do when the market offers you a near 20% gain in one of your two equities holdings during a vicious bear market? Me, I say "KA-CHING!!! THANK YOU!!! PLEASE CALL AGAIN!!". Or in other words Otto has taken profits on Jaguar Mining (JAG), currently up 10% at $2.58.
If you have the word "gold" in your corporate name you're probably having a good day. Pick your own fave, but here are a couple of stories:
Gold Resource Corp (GORO.ob) up 10% and getting love thanks to this morning's press release.
Kinross (KGC) (K.to) up very nicely at $16.50...it looks like the PPS busted through some sort of ceiling this morning and blue sky all around now....or not.....I dunno. DYODD, dude.
Petrobras up 15% at $22 and continuing the wild ride. OPEC decision is the chatter du jour. All I know is that the following oil themes are in the crapper at sub-$50 oil:
- Canadian oil sands
- Saudi national budget
- Brazilian subsalt oil projects
- Russian national budget
- Venezuelan national budget
- Kuwaiti national budget
- Colombian, Peruvian, Argentine independent well spudding projects
FCX up 10% at $21.80 now. My stink bid yesterday didn't fill so I'm just an interested observer on this move. Still following the advice in SinkingAlpha folks? Those people who write on resource stocks over there are bad for your financial health (unless of course you use them as you should, namely the greatest contrary indicator known to man).