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1/20/09

Trading Post (inaugural edition)


Man, that Hawaiian dude sure knows how to rock da mike.

Dynasty Metals (DMM.to) up 4% at $4.14. It's all good. Holding and riding. FWIW My sights are set on $5.60. Get the cheapo report to find out more (though I'm happy to say that plenty of you have already).

Jaguar Mining (JAG) up 0.8% at U$4.92. I had a fair amount of feedback wanting to know why I think JAG is a good play, so let's shout it out. I don't have any special super-duper industry info or strong rumour or anything of the sort, but I do think that Yamana (AUY) will buy Jaguar Mining. Right fit, right country, right size, right price. It also fits with the recent AUY noises about having cash and not being afraid to use it. So that's my neck nicely stuck out; only time will tell now. Oh, I added a few more JAG today, too. Avg now at $4.70 or so.

Mercado Libre (MELI) down 20% at $12.25. I've sat on the sidelines and watched it go from 10 to nearly 20 and now back down to 12. Quite honestly I've been much happier about this stock since I gave up trying to trade it, as I've got a really crappy track record on trying to guess its future. MELI is currently suffering the constant bad news coming out of the S.Am retail sector in general and Brazil in particular.

Cosan (CZZ) down 8% at $3.14. I'm glad I lightened in the high 3s, but even the ones I held are still in the profit column. The Brazilian fearchatter this week is about weakness in the corp bonds market so CZZ is suffering as it has plenty exposure. I'm still watching that sugar futures chart and i'm still very relaxed about holding this one through. Supremely undervalued.

Gold Reserve (GRZ) down 2.8% at $1.05. The Canadian quoted stock (GRZ.to) is rebounding from a strange drop yesterday and is also basically flatlining these last two days. GRZ has reacted with a shrug about the news that Rusoro (RML.v) only got around 1.6m shares tendered to its hostile offer. The RML.v bid has been extended through to Feb 19th. For sure it's started weakly, but the RML.v offer is still on the table and no doubt there's a lot more story to tell yet. As mentioned previously, I own a few (not many) GRZ as a short-term takeover flip play.

Mag Silver (MVG) (MAG.to) up 3.6% at U$5.45. I still say that MVG is on a road to nowhere, Fresnillo is the only buyer in town and there's no reason why we can expect either a counterbid or an improved FRES.L offer. All that said, my thoughts from a few days ago to "take the bonus money and run" have been proved 100% wrong. The stock is up another 10% or so since then (though volumes remain low). Hell, sometimes I'm wrong about things. Big deal.