Hi Michael!
I am surprised that so many here are upset with the trading today. The junior-heavy TSX-V was up bigtime again today, and has had a huge week. The HUI was up bigtime today, and has posted a strong comeback after a weak month of august. The gold juniors are moving just fine, but maybe the boat on the forum was a little too heavily loaded with the same stocks that happened to be down today. BCM for example has posted an impressive run until recently, and nothing goes straight up. It takes a break for a much needed consolidation, but it is still a very good looking holding in any PF (unfortunately I thought it was too expensive at $2, my loss). I know a lot of people own BCM on this forum, but it certainly is no reason to throw the baby out with the bath water.
For example, just going from my watchlist,PBX, CSG, BZA, ECU, EAS, QGX, SEA, IPT, and MAG have all posted stunning recoveries in the last few days, and they are all juniors. I dont think the junior sector is a problem, but perhaps some of the stocks discussed here have taken on cult status, and are not representative of the overall group.
Gold seems to be leading the PM stocks at this point in time, but I do believe we will see leadership rotate to the juniors as more new money enters the sector. It has been a long frustrating summer, and I would hate to see some of the longs give up now when it seems we are on the verge of the breakout.
cheers!
COACH247
PS: I am looking forward to having a few beers and talking stocks after the Cambridge show in Toronto. |
