Sellers emerge as earnings season winds on
In the past month I’ve written s series of articles about what I characterize as ‘companies of interest’. I didn’t issue buy recommendations as such, but you could have done worse than to pick up a few shares in any or all of them.
I’ve mentioned eight companies since February 10, all of them on Canada’s Toronto Stock Exchange or Venture Exchange and many interlisted on the NYSE or AMEX, including Lundin Mining, (LUN) Hudbay Minerals (HTM), Teck (TCK.B), New Gold Inc. (NGD), Pediment Gold Corp (PEZ), Niogold Mining Corp. (NOX), and Coalcorp Mining Inc. (CCJ).
We’d be selling Teck, Lundin, and Northland now at a profit and holding Pediment, Niogold, and New Gold which are marginally lower than the 30 day average as of this date. Coalcorp is a crisis play which spiked today when it got a green light on its controversial of the La Francia coal complex in Northeastnern Colombia. If you got into last month I’d suggested getting out now in a flat trade unless you have extremely high risk tolerance.
Be careful out there.