Bad news for Calico shareholders
Lundin says sell Calico Resources
2015-04-16 16:45 MT - In the News
Brien Lundin, in the April, 2015, edition of the Gold Newsletter, says sell Calico Resources Corp., recently 14 cents. Mr. Lundin said buy Calico three times between July, 2011, and August, 2012, at prices ranging from 29 cents to 37 cents. Assuming a $1,000 investment for each of the three buys, selling at 14 cents would yield a loss of $1,741. The writer says he occasionally ceases coverage of companies on his list so that he can focus his energy on other companies with more upside potential. Calico is one of the companies he has decided to stop covering. Elsewhere in the newsletter, Mr. Lundin says the minutes released from a meeting of the Federal Reserve shifted the consensus expectations away from a June rate hike to September. It also made predictions of no rate hikes at all this year seem less extreme. The writer says this is positive for gold, which moved up after the meeting. He cautions that the volatility of the response in gold, as well as currency markets, indicated that a lot of short-covering was involved, so he stresses patience to his readers who are hoping for gold to move higher. He says while the metal could bounce around its current level for the rest of the year, it has upside potential.
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