Wednesday, January 6, 2010

#jarobuys silver producer scorpio mining AGAIN + linear gold + halo resources + moly mines + oroco res. + cardero res. :o)

hell, scorpio (TSX: SPM) was already my biggest position, but i've added few more shares 2day. why? the company's news flow is soooooo great, they've just bought a gold project in nevada (well, there must be lot of gold, i think, just look at few of my nevada based companies like u.s. gold, miranda gold, vg gold, coral gold, ... here and of course, do not forget the big ones like barrick, newmont, etc!) ... got it?... they've bought => they have money => they do not need any stupid financing, they can afford to expand their growth from own resources ... well, i guess their silver-zinc-lead-copper 'nuestra senora' mine in mexico produces enough cash for this kind of acquisitions, you know?

what abt mr. market? well, the stock is despite the right now soaring gold/silver prices down -1.52% => ??? => what's your guess, who is right this time?

a) me
b) mr. market
c) both
d) none of us

hell, that investment stuff is soooooo easy

addendum 01/13/2010:
yabbadabbadooo! folks, i've welcomed the crashy gold/silver prices the last 2 days and increased my scorpio minig position @ CAD 0.67 and CAD 0.68 a lot (at least a lot from my newly @ lynx brokers opened account's size perspective ) + entered a small initial position in linear gold (LRR @TSX). well, i could get linear gold quite cheap! folks, is there a chap/girl out there who would explain the strange behavior of scorpio mining 2 me? hell, they didn't break apart like the most companies in their peer group did (abt 7-15% down in 2 days) ... but they also do not go up now as their peers do right now ... and it is not abt the volume as the volume remains avarage except 5th of january, where there was maybe 7 to 10 times the average volume i think ,,, => any ideas out there?

addendum 01/18/2010:
OMG! just 2 trading days later! scorpio is +11.94% today! the volume was approx twice the usual amount! no news, of course :-). my guess?
1.) these many stupid folks who were willing to sell their scorpio shares that cheap are out of the market
2.) these few folks who want to increase/enter their positions understood that there will never be a cheaper share price out there, so they started to buy at current price and bid it up a little bit :-)

btw, i have bought a small initial position in an additional canadian microcap, the gold-copper-zinc explorer halo resources (TSX: HLO). why? well, i couldn't longer watch how my limit order is not going to be fullfilled and the share price is climbing higher & higher ... so i have increased my limit from CAD 0.05 to CAD 0.1 today and got few shares @ CAD 0.095 ... damn! of course, it is expensive like hell and close to the yesterday's new 52 weeks high and the like and so on ... but you know what? i had no money a month ago as halo traded @ CAD 0.05 because i've waited for the 'capitalization' of my new brokerage account and also bought other stuff and also hoped halo will come back into its former (lower) trading range, so what? well, if the share price should fell to CAD 0.06 or CAD 0.05 sometime in the future i will prolly buy few more shares ... if not? hmmmmm, i will enjoy the development of my current position i think :-)

addendum 02/06/2010: folks, in the last crashy week there were 3 more low-low-low buy limit orders hit and so i could get moly mines (molybdenum in australia), oroco resources (gold in mexico. btw, i got the shares @ CAD 0.22 despite the recent private placement in favor of management & insiders @ CAD 0.25 per share) and increased my stake in cardero resources (iron ore in peru)

hell, hell, hell! that investment stuff is soooooo damned easy

addendum 04/06/2010: i was right, mr. market was wrong, wrong, wrong :-)

yabbadabbdoooo! scorpio mining (SPM) is +20.3% today (a new much much much higher 52 weeks high!), ten times the usual volume, no news, of course! the latest news release 2 days ago deflagrated without any impact cos the stock traded +0.0% the whole day after the earnings message came out => markets are inefficient, of course!

euphoria, pls never go away from me (to the next investor / money manager / hedge fund / trader or the like) ...
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