EP,
I have been taking profits, moving to cash. My portfolio is primarily these themes:
1. oil sands
2. uranium
3. PMs
4. bear funds/puts
I have a small position in FDG left but I generally am not enthralled with coal. There is a great deal of coal on the planet and as new production is coming onstream quickly now, I am worried about pricing going forward.
I have taken some profits in the oil sands (CLL, OST, UTS) and am looking for an inflection point so I can add WTO.TO. I still own CLL, UTS, PBG, OST, COS, DCE, CWPC and OPC
I like crossover uranium and gold plays like Aflease, FRG.TO. I think the uranium story in general is more compelling than coal.
In PMs, I added some DNT.TO recently.
I have been selling CDN oil and gas juniors. Some have been dropping in price after announcements of trust conversions (LEL.TO) and some have been flat after being mentioned on ROBTV with decent targets that would have moved share prices a few months ago (TUI) and FLO was purchased by DAY.UN for less than the trading price. If these clues aren't wakeup signs to overvaluation, I don't know what is. So, I sold my Canadian juniors except TGA, APX.V. I also have CNR, TMXN.OB and PYR. Internationally I have DTNOF.PK.
I took profits on some EN.TO that I bought at the IPO.
The move by the S. Koreans to restructure their reserves and by India to use reserves for infrastructure projects may be the start of a trend (no CB wants to be last). The cracks in the foundation are appearing. Divesting USD will push up bond yields, and there goes the housing market and the US consumer. I am not sure what that means for the dollar longer-term, though, as attractive yields will draw investment when places like BOC (Canada) are on hold trying to keep their manufacturing sector competitive.
The entire commodity sector is looking a bit tired now after quite a few big moves since the start of the year.
David |
