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3/12/09

Trading Post (financial junkies edition)


In the WSJ today, some old dude called Alan Greenspan said that the Fed didn't cause the housing boom. He went on to explain that if you suddenly supply people with a very, very large quantity of cheap narcotic drugs as well as the syringes, cigarette papers and all the other paraphernalia needed as delivery systems, and THEN take away the social stigma surrounding the drugs in question, the people are to blame for becoming addicts. If you ever needed a perfect example of an emperor with no clothes check out Greenie version 2009.

Cosan (CZZ) up 8.8% at U$3.08. No gloating allowed, Timothy :-). Still holding, no selling yet.

Antares Minerals (ANM.v) up 19% at $1.10 on the back of nothing. Volumes low, so DD needed before rushing at that buy button.

Freeport (FCX) up 3.8% at $36.90 and just keeps motoring on up. The broad markets helping Freeport and PCU, too (up 3.2%). Gotta like the company.

Chariot Resources (CHD.to) up 16.7% at $0.14. It wasn't me, I promise. I don't hold this thing. Anyway it's been bumping round the 12c to 15c level for a while, so it can hardly be called a breakout. Volumes ok.

Troy Resources (TRY.to) up 2% at $1.02. I tried and missed to buy some yesterday under a buck. As a reader mailed to me yesterday, volumes are so pitiful 'it's like watching paint dry'. There's more volume in Troy over on the Aussie bourse, of course. Patience needed. DYODD, cos I'm long this one.