ASX down but PM mining stocks up

Discussion in 'Stocks & Derivatives' started by rbaggio, Aug 3, 2011.

  1. rbaggio

    rbaggio Active Member Silver Stacker

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    So the XAO, XJO and XFL all finished -2.3% today.

    What did the precious metal miners do? Well, here's the ones I have an interest in:

    CCU +1.03%
    SVL +12.50%
    SLR +4.33%
    CGT +4.17%

    I think this is an interesting movement. From my limited recent experience, these small(ish) cap pm miners get hit every time the ASX goes down, mostly regardless of pm price movements.

    Not today. ASX goes down, PM prices went up, AND THE PM STOCKS FOLLOWED SUIT, and strongly.

    Nice.
     
  2. Agauholic

    Agauholic New Member

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    funny feeling logging in and seeing @ the top of commsec activity is GOLD etf

    it's a happenin
     
  3. SilverSanchez

    SilverSanchez Active Member

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    Ive taken some profits off the table - stocks will be hit as well
     
  4. boneyard

    boneyard Well-Known Member Silver Stacker

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    Thanks for the post.

    I only hold CGT atm.

    My feelings are if you don't hold it you dont own it.

    Looking forward to some good bargins on the ASX soon.

    Any comments on any stocks to keep on the radar?
     
  5. SilverSanchez

    SilverSanchez Active Member

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    Everyone could be wrong - I just think I would rather risk lost profits than lost capital.
     
  6. mickjohn

    mickjohn New Member

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    I recently sold out but couldnt resist the CGT opportunity....

    Despite a looming dip, im not selling. Timing the other way could be perfect.

    First pour coming, faith in fiat going.
     
  7. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    You may like to do a little research into (KBL) Kimberley Metals boneyard, they have just gone into production...... Duel feed Copper/Gold mine with silver credits.

    What I like about this coy is the Sorby hills Silver/Lead project in WA.......This is all shallow open cut high grade ore bodies, coming on line in 2012.

    I hold & buy on the dips....."Up 1.5 cents today Sweet"

    Good luck
     
  8. SilverSanchez

    SilverSanchez Active Member

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    Hate being right :)
     
  9. Silverthorn

    Silverthorn Well-Known Member

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    nice turn around in the xgd today.
     
  10. Silverthorn

    Silverthorn Well-Known Member

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    XGD holding a bit better today. Down a touch.
     

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