Winner: Negative Timing Announcement Of The Year Award'Interest rates move stocks, kid.' Those words were spoken to me nearly forty years ago by an 'old' guy of forty in my office. I've always remembered them.
It turns out an obscenely bloated stock market can't take a few basis point increase in ten year bond yields. As interest rate hikes go thats not much.
Did you think the forever bull market would last forever without a correction? I didn't. It's why I've been out front about my long term perspective for precious metals generally, for silver and SCZ specifically.
Some time 12 to 36 months from now silver and SCZ will be much higher and until then I plan to hang in there.
There will be, in the time between now and then, ample opportunities for commentary here at stockhouse.
Today, without freaking out at market turmoil i do marvel at the supurb negative timing--in fact it's a candidate for the 'negative timing award of the year' trophy--demonstrated by SCZ. A press release announcing the perfectly normal and frankly expected dilution to pay for Zimapan comes out today!
Nice to see a worse market timer than myself. I'll invest with these guys every time. They've got to be in it for the long term because short term, today, this announcement sucks.
Cheers.