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9/23/08

Trading Post (nosebleed edition)


Apex Silver (SIL) is giving me a nosebleed just by watching it. Look at the 5 day chart....
....and you go "wow". Then again, if you look at the one year chart....

....you go "ouch". The flimsy rumour/story going round is that Bolivia is handing out some sort of guarantee to miners. As I wrote to A.N Other, what the devil does a Bolivian mining guarantee mean, anyway? I think it's a pumped-up rebound over an oversold stock that's still in trouble but is unlikely to go to the wall (mainly due to having Sumitomo as a partner at San Cristobal), no more and no less. Buy some here and it's heads or tails for double or nothing...not my idea of investment. If you'd like to know more, there's a great new way of learning the deep details :-).

So much for my great beat-the-market, spot-the-window call of Cosan (CZZ) yesterday. Moody's decided that it's a great time to downgrade company debt and, to add insult to injury, keep the negative outlook rating. The result is the 7% extra bonus drop today. Plop.

I remember a few months back (in April, to be precise) telling the world a plain fact about Tenaris (TS), namely that it isn't an Argentine company. All sorts of people got bitter'n'twisted on me about that one. Well now the ostriches can go complain to MSCI, not me. Frontierworld, here we come... Yeeehah...yippy yay yeah!

Novagold (NG) down 7% at $6.81. The "kick me" sign worked a treat, it seems.

Los Andes Copper (LA.v) was cheap at 0.45. It's even cheaper now the PPS has been sliced in half by this ruthless bear market. Now at 0.22 and I truly despair at how cheap this thing can sit without attracting interest. Good position, good mgmt, great project, right metals, right country. But no love. Uff.