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10/14/08

Trading Post (what rhymes with pump? edition)


I could have sworn I saw the Dow at 9794 this morning.........

I could have sworn I saw spot copper at $2.55 this morning........

Plenty of Canadian juniors playing catchup today. Pick your own fave, but as an example Inca Pacific (IPR.v) stands out as springing, ignoring the Dow drop and with legs for more (it seems). Trading at $0.40, with bid at 40 and the ask way up there at 57c.

Mercado Libre (MELI) also hanging tough and ignoring the wider round of profit taking. Up 2.5% on average volumes.

Freeport (FCX) dropped from $48 at the bell to $41 right now. That's an 18% spread in less than 6 hours and reminds me why I'm still happy to be largely in cash. Cowards rule ok!

SLV...to take profits or not to take profits? I'm tempted to cash in a 12% gain, but I think it's worth leaving it to run some more. So holding through for the moment.