Saturday, July 20, 2013

Muppet Miners--Price update

Just wanted to post an update of the spreadsheet this week from the miners I've been watching.  The big winner is First Majestic, which continues to have massive output, and a gain of 32% in two months since the spreadsheet was originally posted.  The big loser is Alexco, which has had to implement cost-saving measures as the metal prices have dropped. 


I'm going to be adding a few more miners to the tracking sheet, including SantaCruz (SCZ) and Gold One (GDO).  Other smaller ones to watch include KOR, ORG, OLE, ORV, RPM, SSP, and USA.

Tinka closed above the 10dma with no upper tail on the candle, so that looks initially positive.  However, this isn't confirmed by either strength on the weekly chart or price support from the underlying metal (silver). 


The only trade I've made in a while was a few USO puts a few weeks ago.  Those didn't work out as oil seems to have caught a speculative bid, and continues to climb.  Right now, waiting to see how oil responds to being overbought and how miners respond relative to their PMs.  Long term, though, I'm excited about these smaller miners, as cost saving requirements are forcing management to take a more serious view of spending and also of borrowing.  Hopefully, not too many are hedging in order to make this happen... 

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