My thoughts!Maybe nobody here has noticed but zinc is getting pounded lower & so is copper. Zinc is down almost 10% in 2 days. China became a net exporter of zinc again in December and that had an immediate effect on the LME inventories since then and who knows how much their production is growing. Many on these boards seem to think the EPS will just keep going higher well right now it's not looking so good. Maybe EPS estimates will start coming down soon?
I was not impressed by the reserve report from HBM with overall growth of 7%.
I sold all my HBM, TCK.B & LUN yesterday morning. I had been gradually reducing the positions for weeks now. I still held my Ni plays and a couple small undervalued copper/zinc plays. Ni still looks very strong as do PGM's. Maybe I am being overly cautious but I have huge gains on all these stocks I sold. HBM is a good company and cheap on a current PE basis but if zinc/copper keep falling and you get a serious market rotation then it will be vulnerable.
I have been building big time on my energy positions for the last 3-4 weeks. I have also added a lot to my gold & silver. Cheers!!!