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Hi Ron, In my opinion the junior market can now be counted down and out. This week, I have witnessed all sorts of spec stocks tanking to new lows, including those that are well funded such as PVO, TKR, ESX, MFL, PGD and a number of others. My belief is that any money invested in companies that have not yet made a significant discovery is likely to be LOST, or a very significant part of ones investment is likely to evaporate. Another prediction is that those individuals following momentum players such as Bob Bishop are likely to lose the most. Gone are the days where an individual can waive their hand and bring huge volume to "area plays" simply because company xyz has property in the vicinity of a major discovery. The speculative buyer has moved back to blue chip companies that are participating in the greatest bull run of recent history. One safe harbor that I can see that offers significant above average up-side, is in the oil and gas sector. No salting there, and with 3D seismic, one can have reasonable confidence of success during an extensive drill program. I would say that even the number of posts to SI is diminishing, certainly in the stocks that I follow, and now that we are encountering the June effect, it is all but over for this year, and I doubt that we will see a return to pre bre-x levels until several years have passed. It has been a disastrous year, and my opinion is that we have one more scandal to come in the form of IPMCF and their "only we can find the gold" assaying procedure..........regards, Robert |
