Monday, April 22, 2013

Still here, still sober.

Tinka has been range-bound for the last week, basically oscillating between .86-.91.  Buying the .86 and selling here gives you almost 6%.  I'm putting an order for this tomorrow, a stinker, at .85.  We'll see if it works.

First Majestic, Silver Wheaton, Silvercorp, SilverCrest... all cheap. Alexco looks crazy cheap on the heels the silver/gold smash last week--in retrospect, I think Alexco's price breaking down from it's range was the tell.  My bias and the pro-cyclicality of thought assumed that the range would continue.  Thank god for stops... but... sill massively oversold. From this month's press release:  "Accordingly, as we progress through the second and third quarters we will be sequencing back into higher grade areas of the mine. We continue to expect to produce approximately 1.9 to 2.1 million ounces from the Bellekeno mine in 2013."  I think I'm going to start back in at these levels.  While staying away from GDX, GDXJ, NUGT from now on.

In other news, Netflix is up 25% in AH.  Crazy times.  Miners are undervalued and hated, while virtual happiness streams to 25% gains.  Welcome to the Matrix!

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