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Greece's 1-year yield is now over 100%, and Italy just had a disastrous bond auction. Go read ZeroHedge.
$HUI is still being supported by its EMA(8), and GLDX (explorecos ETF) is strangely the strongest of all 4 miner ETFs right now. But SIL is atrocious, and GDXJ has lost support. I'm going to operate on the theory that once SIL and GDXJ look bad, the peak has been put in and I should trim back.
I dumped my EST to Mickey Fulp's readers this morning, for a profit. I dumped GOZ because it's been such dead money for so long - at a profit. RIO's exploded upwards, so I trimmed my position (just a bit) for a massive profit. FR looked horrible, so I took a loss and left that position. Sold half my GPM at the open, at a profit, will be happy to buy it back at .33 or lower. So now I've made double this week's quota (most of the profit was in RIO), am now half in cash (with half the remainder in RIO), and feel quite safe.
Now crash damn you! And give me some deadly deals!
I hope you sold RIO early this morning.
ReplyDeleteWhat's up with RIO? Must be a newsletter reco, or analyst reco? Up 9% this morning, heavy volume as well.
I did, $2.71 or so. Would be happy to buy it back lower.
ReplyDeleteThey're about to come out with a production announcement I guess. RIO saw over 2M shares volume today on the TSX alone, so it's something important, not the trivial words of some analyst, not even from someplace like Cormark.
Sorry, but I don't believe that.
ReplyDeleteThe market knew about the upcoming production announcement last week as well, and franky I don't think they care, and there were plenty of stocks availabale at 2.40, so no need to rush in this morning and buy at 2.70+.
No this is typical OMG-Casey (or A N Other Newsltter sent out during the weekend) has put a 4.50 CAD target on RIO, I must buy now, right at the opening. The volume is heavy, many many times above avarage.
Where is Otto when you need him?
I don't believe that we could ever see a $6M pop on a Casey rec. People who follow him don't have money like that. Maybe a major like Cormark, but even then why would retail be buying on a day like today? Retail was selling.
ReplyDeleteMaybe RIO's production figures were just posted on some government database in Peru or something?
OTTO where art thou?
ReplyDeleteYou are right about reatil though.
i'm at perumin, hanging out and checking the boothbabes.
ReplyDeleteRIO could have been due to the S&P index inclusion (announced late-ish Friday). Or it couls be a newsletter gotta-buy-now rush. I dunno, but in the end it's going higher than today's high and i'm already bot, so i play the boring fundiesguy card and stick with my target.
The only booth with boothbabes at PDAC was Hochschild. I guess Peru is just more progressive than Toronto.
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