Penny Days Are Gone In Sector?, Major Shift?
I think so. Just noticed in one after another natural resource stocks I have, they are back over $1 even if they were once <.20, Claude being the biggest example of that., now 1.06.
In 2002 I bot many hitech stocks that had been $20-$40 that had gone $1, like GLW, and sure enough it was a winner (it went over $20 again and is there now).
The gold/metals/oil sector is loaded with once $20-40- even $60 stocks that dropped to penny land or close to it, and $3 stocks that dropped under .25.
Just today looking at portfolio, see CLGRF over $1, ENG over$1, FCX was $4 now >$10, GPL was .30 now >$1, AUY was $1 now $3, CENX was <$3 now almost $8, GSS was .14 now .48, MEAOF was .015 now .075,and NMKTF was .63 now 1.77 and lastly TUWOY was .82 in Jan2016 now $1.50 .
Many of those moves have been in just last 2 months!
This is the first day that this leaving penny land change in mkt really struck me, heck 2 days ago was buying CLGRF under .95.
Good sign. If a sector once not penny land goes to penny land and then leaves penny land, that is where the biggest gains are possible. And we are seeing that now, MEAOF has already 5 bagged.