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9/18/08

Trading post (green-on-screen edition)

Yes indeedy folks, it's miner's relief rally day and I'm on the sidelines! But I'm going to kick off with one junior I still own and that's made great progress in the last two days

Fortuna Silver (FVI.v) has upped 33.75% in less than 48 hours, and "oh fer gawd's sake..at LAST" is all I feel like shouting.

Be clear: FVI.v is a stock I recommend as a buy without a moment's hesitation. More background linked here and usual disclosures apply.

Jaguar Mining (JAG) lagged the other goldies in yesterday's bounce but is making up for lost time today. Up 14%, but volumes still not very strong.

Andina Minerals (ADM.v) rose bigtime on very strong volume at the bell but has since dropped back. Now at $1.12 and up 2% on the day. Steve Saville recommended this in his latest newsletter, but I'm going to lock horns with a bigboy newsletter writer here. I do not agree with what he said and will go into more detail in a post after the bell today.

Minera Andes (MAI.to) up another 12% at $1.14, and all I can say is w00t w00t w00t. Still amazingly cheap, and check out previous posts here on the San José copper project to find out why.

But it's not all Latino bliss today, as the Bovespa and Merval indices prove. Both are dropping even further today after yesterday's heavy selling. FWIW I think the selling overdone, but I'm not catching any falling knives in the banks, retailers, telcos etc etc. No way José. I'll keep sitting on the cash. Gambling is for others; I like the fish-in-dry-barrels opportunities that come after the top'n'bottom callers get lucky.

Bought SLV yet? Still plenty of time, you know.