IKN

The dollar is down, gold is up, the rest is noise. Cue the goldbug chorus of fiat death coming to a tinfoilhat website near you soon. Meanwhile, for the well-adjusted amongst us……….

What do you do when the market offers you a near 20% gain in one of your two equities holdings during a vicious bear market? Me, I say “KA-CHING!!! THANK YOU!!! PLEASE CALL AGAIN!!”. Or in other words Otto has taken profits on Jaguar Mining (JAG), currently up 10% at $2.58.

If you have the word “gold” in your corporate name you’re probably having a good day. Pick your own fave, but here are a couple of stories:

Gold Resource Corp (GORO.ob) up 10% and getting love thanks to this morning’s press release.

Kinross (KGC) (K.to) up very nicely at $16.50…it looks like the PPS busted through some sort of ceiling this morning and blue sky all around now….or not…..I dunno. DYODD, dude.

Petrobras up 15% at $22 and continuing the wild ride. OPEC decision is the chatter du jour. All I know is that the following oil themes are in the crapper at sub-$50 oil:

Think about it.

Mercado Libre (MELI) zooming again. Now at $16.50. It’s cheap, it’s growing, it has no debt. Kinda weird to consider that if the USA was growing by 2% per annum people would bid up this stock to $50 because of Brazil’s reatil sector strength. Especially weird considering Brazil’s retail sector is still strong and it hardly matters what’s going down in Macy’s, BedBath&Beyond or JC Penney’s (if they all still exist…pls advise).

FCX up 10% at $21.80 now. My stink bid yesterday didn’t fill so I’m just an interested observer on this move. Still following the advice in SinkingAlpha folks? Those people who write on resource stocks over there are bad for your financial health (unless of course you use them as you should, namely the greatest contrary indicator known to man).