002. PIGPENNY PLAY - Long Great Panther Mining (GPL)Not going to lie, today was probably the absolute hardest trading day I've had in years. The complexities underlying some of the moves today were not only inter-related based on recent correlations, but also for genuine fundamental reasons. For example, while the Nasdaq wants higher because of the ER calls this week, the risk-off sentiment wants gold and silver. Further, the risk-on sentiment did not get their proper fill from Gamestop, so what's the next logical step?
That's right. It's the penny miners.
This company is actually pretty good and I used to trade it when I was into penny stocks around 6 years ago. The only thing that you need to watch out for is the occasional employee mining-related death, which was disturbingly frequent and annoyingly frequent. They solve that problem, I think great panther can leap 10 fold in a few days if we can make it into a cult-play via CNN or some hedge fund or something.
-GreatPigther
AMEX:NUGT
AMEX:GPL
TVC:GOLD
TVC:SILVER
AMEX:GDXJ
