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7/25/08

Trading Post (voluminous edition)


Volumes traded are the whole story here. Blame a little on the summer season, blame a little on the fact it's Friday, but the real blame lies with market fear. Everyone nervously asking "Hey...you buying?" and nobody answering.

I've been fortunate with Colossus Minerals (CSI.to), having bought at $2.80 and sold around the $3.50 level. It's now back at $2.75, but the low volumes put me off jumping in again. I'll be watching for news, as it should be ready to cough up another PR with gold intersections soon.

Fortuna (FVI.v) is recovering a bit from yesterday's dumperooney. It must be the new advert :-). Volume is low, that's all there is to say. Now's the time to do the buying bit of a 'buy'n'hold' strategy.

PCU is doing nicely, and my ST trade is firmly in the winning column. A nice way to finish the week. Not taking profits just yet, as reports of copper's demise were greatly exaggerated this week and a rebound in spot is in the cards early next week.