Molybdenum is a copper by product. It is used as an alloy to make steel less corrosive. It is a major component of steel tubes for the oil and natural gas industry.
Today we have initiated speculative longs in two positions. Thompson Creek (TC) and General Moly (GMO). Both stocks had collapsed, but they seem to have found a bit of a bottom and are bouncing. We will make our play now, as we hate to try and catch a falling knife.
This is a triple play really. beat up small caps, beat up commodities, and a play on energy.
http://finance.yahoo.com/echarts?s=GMO#symbol=GMO;range=2y
See the chart. We are playing the trading bounce after the collapse.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment