Another MentionGlobal Investor’s Bulletin: 13th nervous correction
BY J. ROBERT YOUNKER, SPECIAL TO THE DAILY BUSINESS BUZZ
The Nova Scotia Business Journal
--The Canadian and US stock markets are a dog's breakfast today. The Americans are getting ready for their Thanksgiving, and buyers are scarce.
--With BMO yielding 5.03% and Barclays yielding 6.23%, its time to dust the cobwebs off of your government bonds, which now yield less than these two banks.
--Fanny Mae and Freddy Mac suffered a dust-up of around 20% yesterday.
--MedMira gave up some of its exuberance, as it new-highed yesterday at $1.48. When I last checked it was 89 cents, but if it corrects substantially during this market malaise, positions should be taken again.
--Golds are not moving. In spite of higher gold prices, it’s hard to believe there is no action with the gold price around $800 per oz.
--George Aryoman has put in a "stink bid" in for Grandby trust units below the current market. The stock is at around 25 cents, and although I have no idea at what price George is bidding, 25 cents looks really cheap for this one.
--We are still high on Birchcliffe at around $5, and Starfield Resources at around $1.32.
--I have seen 13 of these corrections during my career. Buy when nobody wants in, and eventually you will do well.