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PMS Daily Digest for Friday, Aug 1


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the X-over in Feb was a false break.... this time the 200 dma is flattish rather than falling as it was in feb... still would prefer to see the 200 dma turnip....

That's exactly what I figured. The false X-over was during the strengthening of the C$ versus US$. This time, I think it'll be a different ball game. One of my suspicions is that juniors might rise on low volume during the PB of indices.

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That's exactly what I figured. The false X-over was during the strengthening of the C$ versus US$. This time, I think it'll be a different ball game. One of my suspicions is that juniors might rise on low volume during the PB of indices.

please be careful in the junior spec space ... many recent financings have been done.... this often occurs at periods of optimism in the PM sector...... so barks the smelly dawg

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(from Reuters) A gasoline pipeline near Iraq's biggest oil refinery at Baiji, in northern Iraq, was ablaze on Friday, more than 12 hours after a fire broke out, a spokesman for the U.S.-led administration for Iraq said.

 

"We are still trying to shut down the line and get the fire under control," Todd Pruden said. He said the blaze began around 10 p.m. (1800 GMT) on Thursday, and it was not yet known what caused it.

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from my reading and notes it appears that many of the US based E&P's are suffering from a lack of prospects ... I see this acutely in the BR chart.... the charts that are showing the most strength are things like DNR and PXP who take over old fileds and apply technology to these fields to extract oil/gas that was either overlooked or left behind after the primary / secondary removal methods have been completed....

 

The CDN boyz on the other hand seem to have targets of good potential available in the Western Basin... the charts of BTE and ECA seem to reflect this.....

 

regardless of where you are placing your investment dollars DYODD and try to scale into positions so as not to get caught in a suden downdraft... like SKE...

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