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11/21/08

Trading Post (What's all that green doing on my screen? edition)


Gold went up. Did you notice? Now printing $801 and $55 up on the day (or 7.5% if you like). Note that gold is nearly the same price as platinum now. I don't know what that signifies, but it looks kinda cool. Anyway, I took 1/2 profits on my sexy winning position in GLD and the other half can ride this sucker.

Meanwhile........

FVI.v up 20%....w00t, PCU up 12%....w00t, JAG up 15%...w00t. Maybe it is just a relief rally, but I'm gonna enjoy it whatever happens. Plenty more double figure winners out there today. Pick your own faves.

It's not all joy out there, though. Capstone (CS.to) at $0.67 is down 3% and deserves much better than this. Also, I noticed Gold Hawk (CGK.v) traded at $0.01 this morning for a miniscule 5,000 shares before popping back to UNCH at $0.02. This set off a lightbulb in my head, and that lightbulb was;

"HEY, IT'S TAX LOSS SELLING SEASON!"

The point here is that plenty of people will be selling their beaten-to-a-pulp losers in the next three or four weeks, and in the microcaps like CGK we're likely to see some weird trading action as people just throw them away (like the guy who sold CGK.v at 1c this morning). Perhaps opportunities for the fleet of foot in the pipeline?

OH, nearly forgot. Lundin (LMC) is getting swallowed by HudBay (HBM.to). Big big merger, and LMC shareholders get the premium on their beaten down stock. Here's the PR, so read all about it.