Post by
charni on Mar 11, 2015 1:18am
Peregrine/resource sector/being a contrarian
No use trying to rationalize why the market is not going up. More sellers than buyes, so right now we have a stalemate - sellers at least right now are not overwhelming the buyers (and vice versa). Worst resource market in 50 years with sentiment basically saying rthere are ample minerals for the forseeable future. But a stalemate implies "bottoming " action. When do you buy ? When the sentiment is negative - like NOW. The million share sellers today don't give a "hoot"re fundamentals or improvements in the story. Just get me out if there is liquidity - that is the current battle cry in the mining sector.
Was buying at $2.50, .50 and .40 (not looking good right now) - is .20/share cheaper - for sure, unless technology starts making minerals out of this air for cheap. Then all bets are off.
If you are a "speculating" man (woman) buy when everyone has given up but the busness model keeps getting better and better. A "10 Banger" as they say with PGD takes the stock price to $2.00. Don't even have to reach the old highs ( 20 Banger !!!!).
Lots of enticing but gut renching stories like this out there. Where's the cash to buy ??
Comment by
ekim on Mar 11, 2015 1:42am
I was just thinking how we have all become contrarian investors. Being just a speculator in the resource sector is the old way. Now the only ones left in resource sector stocks are contrarians. The ones who still believe commodities are actually do cycle and these time isn't the new and permanent norm. LONG...PGD EKIM