Well the Euro continues to lose value against the US dollar. I thought the channel at 1.3250 may hold but no such luck. We have now seen the Euro bounce off the 1.2864 resistance level and we will see if it holds. If the Euro keeps tanking we will see more pressure on the stock market.
All the year end selling was done last week and now we have the seasonal rise in the market. RRSPs are often topped up before the end of February and people use the contributions to buy investments. I would also guess that there is a lot of $$ sitting on the sidelines waiting for the markets to tell them it is time for a run.
Gold has corrected but hasn't quite broken down yet. It had a high $1900.30 last year and is currently at $1566.00 US$ gains pushes the Gold price down.
Editorial Picks Update:
Passport Energy ( PPO CNSX ) was picked at .10 on April 5th, 2010, closed Friday @.19 High since pick: .40
Web Site: http://passportenergy.com/
The company announced an Acquisition of 7 Gross Sections of Land in Hardy Bakken Core Area
Calgary, Alberta CANADA, December 13, 2011 - Passport Energy Ltd. (PPO - CNSX),"Passport" or the "Company" is pleased to announce the expansion of the Hardy Bakken core area following the December 5, 2011 Saskatchewan land sale. The company was successful in its bid to acquire 7 gross (6.25 net sections) in close proximity to its existing acreage in the Hardy area. Within these 7 sections, 6 were purchased at 100% working interest and 1 at 25% working interest (with the company's area partner, Eternal Energy, at 75%). This brings the total number of sections that Passport has an interest in to 46.75 (gross) or 18.7 (net) within the core area.
So we have a company:
1) that was successful on their 1st well. There is elevated excitement in the Hardy area.
2) Announced a farmin agreement with a Large Independent Canadian Oil and Gas Company. I'm still trying to figure out who it is.
3) Must read 22 page presentation : [ Here ]
In the presentation: Internal estimated OOIP: 300 million barrels of oil
The company's stock is currently floating between .15 - .20 and I would guess that they will not be staying on the CNSX. If your doing deals with Major Oil and Gas companies you probably would want to be on a more recognized and accessible exchange. I hope they move soon.
I still own all my shares.
Stratton Resources ( SI TSX Venture )
The stock was picked on December 3rd, 2011 @ .55 now at .45.
Company web site: [ Web Site ]
The company is floating on low volume in the mid .40s. Read two blog posts back when I wrote it up. I believe in management and I am happy they have $8.5 Million in the bank to execute their plan. Money was raised at higher levels.
"Lundin says buy Stratton - 2011-12-20 16:20 ET - In the News
Brien Lundin, in the November, 2011, edition of the Gold Newsletter, says buy Stratton Resources Inc., recently 56 cents. This is the first time he has recommended the stock. Stratton is currently drilling at its MAC copper-moly project, which lies 80 kilometres northwest of Fort St. James, B.C. The 12,944-hectare MAC property has three targets, Camp, Pond and Peak. Camp has a non-compliant resource of 100 million tonnes of copper-moly, which Stratton hopes to make compliant. The company is also conducting a 12-hole phase I drill program at its Bear Canyon copper project in Arizona. It has money in the bank, having raised $8.5-million in a private placement in August. Mr. Lundin says these days, base metals do not a market darling make; however, over the long term, Asian (particularly Chinese) demand for base metals should rise, and Stratton should benefit from that. The editor says buy now, while the stock is trading at bargain-basement prices. Stratton has backed off from its 52-week high of $1.50 reached in September. The gold bug has confidence in Stratton's management, which includes CEO Greg McCunn. Mr. McCunn is also the CFO of Keegan Resources, one of Mr. Lundin's profitable recommendations."
I still own all my shares.
Picked at 35.5 cents on DEcmeber 3rd, 2011. Price now: .315
I think the stock has bottomed out. Chart has flat lined between .30 and .35 for all of December and they have a great project. I'm Looking forward to 2012 and guess what Brien Lundin likes Argentex too:
"Lundin says buy Argentex - 2011-12-21 17:22 ET - In the News
Brien Lundin, in the November, 2011, edition of the Gold Newsletter, says buy Argentex Mining Corp., recently 40 cents. Mr. Lundin said buy six times between May, 2008, and April, 2011, at prices ranging from 60 cents to $1.29. Assuming an investment of $1,000 for each buy, the $6,000 investment is now worth only $3,778. In 2011, Argentex drilled over 19,000 metres in 206 holes at its Pinguino silver-gold-indium project in Argentina. Recent assays include six metres of 1.78 grams per tonne gold and 470.3 g/t silver. Since releasing a resource estimate for the project in 2009, Argentex has drilled nearly 26,000 metres at Pinguino. It will include results from the past two years of drilling, in a resource update which it plans to release by year-end. Argentex has lost 75 per cent of its value since May, 2011, when it reached an all-time high of $1.61. However, Mr. Lundin continues to have confidence in the company and its projects. He blames the share price decrease on market weakness and says investors should take the price drop as an opportunity to inexpensively add to their holdings. The editor expects the Pinguino resource update will surprise the market and push the stock back up."
I still own all my shares.
Anyone playing the Social Stock Market Game Empire Avenue?
You can visit us there: [ Click Here ]
We have a new TSX Venture sponsor which means a New Electronics Draw: Submit Form & look for Bonus entry! [ Click Here Please ] The company is involved in helping solve the global food crisis. With 7 Billion people on the planet and global growth continuing on a rapid pace, I think people may start paying more attention to stocks related to food and water than gold. Click the link above and get information on this company.
It trades on the TSX Venture and was just recently listed. Also the 100th person who responds to the e-Bulletin gets $100CA.
Again these are my personal thoughts on the markets. I am NOT an adviser and I suggest you consult your adviser. This is not a recommendation to buy or sell stocks, it is my personal blog and treat it as such. These small caps are volatile and high risk, I choose to invest/speculate in these stocks, but this is not for everyone.
Good luck in all your investing!
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