Funny thing.... PGM's drifted down to $2.60. Since the buyout is a shares/cash combo, are people scared that palladium/platinum is about to go south?
There's a lot of fear all of a sudden about Euro bonds and the associated CDOs, contagion, bank collapses, yadda yadda. Are people scared that there's going to be a Euro bonds & banks collapse?
Copper miners are down 4%. That doesn't indicate happiness about the economy. Fear of a rotten China, maybe?
Gary Tanashian just sent out a positive, happy newsletter this weekend. I wouldn't want to offend him by calling him a contrary indicator, but sheesh, JNK:LQD has sunk again all of a sudden; does this portend something bad? Is it "not off to the races after all" now?
I dunno dudes. I'm cashing up. Had a few other profits to take. I bought some more BTO on the sink to $3.19. I sold some SWD this morning for $1.75, probably to Otto subscribers who had just sold off their PGM and decided to plow their money into Sunward. I also dumped half my GPM into the bid for a bit of a profit - no reason for me to have the large position that I did, I was just too greedy.
I'm seeing deals right now, and might buy back some FVI or more SWD or some more AUU at a cheap price... just not yet. I'm suspecting fear is infecting the market. With my big 5-figure win in PGM this morning, I'm happy to sit on the sidelines for a few days as things solidify.