Canadian mining stocks are like Canadian strippers, they look beautiful af on the surface... but you can't trust either for the long haul. -vz
My observation is the bigger the move the more people doubt it on the way up. They were a screaming buy in March like most of the TSX was. I base my moves on fundamentals and historical technical levels. Broader interest levels only picked up two weeks ago. With all the "money printing", the US/China trade spats, and the possibility of a huge second wave with Covid, it's a really good gamble from here ( buy the dips ). The really easy money of course has already been made. Better question is what is out there that is better value and risk/reward. Not much at the moment. Earnings reports are good in Q2 which was the worst it with respect to Covid; unlike other industries with huge write offs and deeply discounted earnings targets, the miners are growing earnings. Sure there is risk, but the Q3 earnings are going to be spectacular.
Q3 earnings are going to be spectacular? You mean it would be good earnings despite everything shutting down?
Almost none of the Cdn Gold/Silver miners are shut down. They are meeting or exceeding production targets and the metals they sell are rapidly going up in price. It's not rocket science what that could do to their earnings Q3 given their good numbers in Q2 ( there were some mines shut down in Q2 now reopened ). Also note that today was a key moment in determining the trend on Gold/Silver after a corrective day on Friday. Early returns are solidly up today. In another interesting area, M&A activity seems to be starting in Canadian energy which is giving my natural gas stocks a lift. Short term trade.
As I said anything to make wallstreet happy. A change of heart.......... put more free trillions on the table. They will meet at 2 trillion or more just to get wallstreet to rocket higher and higher.. Mnuchin is open to restarting virus relief talks: ‘We’re prepared to put more money on the table’ PUBLISHED MON, AUG 10 20209:14 AM EDTUPDATED 3 HOURS AGO https://www.cnbc.com/2020/08/10/mnu...-prepared-to-put-more-money-on-the-table.html