So when the S&P500 went green a few minutes ago I had to check in with our friend the owl, who remarked….
…because apparently things like earnings and fundamentals don’t affect stock prices any longer.
Troy Resources (TRY.to) down a penny at $1.28 but despite the still small volumes TRY.to has had an ok sort of week. At least it’s traded every day for a change.
ECU Silver (ECU.to) down 6.9% at $0.54 on volume. No news to report apart from the fact that this company is a total and utter dog…and that’s not news, either. Speaking of dogs….
Caerus Resources (CA.v) down 18% at 50c….people actually bought into the concessions news earlier in the week. Hopefully the money they lose will teach them a valuable lesson for the future.
Minera Andes (MAI.to) down 14% at $0.72 and a nasty surprise for longs this morning as MAI.to announced a round of financing at $0.75 that pummelled the PPS. I had to agree with our friend the owl this morning when he heard about the news and exclaimed….
…as there doesn’t seem to be a need for this extra wodge of dilutive cash right now, unless McEwen is playing an insurance card to guard against lower metals prices in the pipeline. Anyway, as I’m long I wasn’t very happy. Still not very happy, in fact.