To start, I have sad news to report. One of our CEO.ca community members has passed away. Our friend @JRDGold, has gone to heaven. I've never met him, and only had a few private conversations with him regarding the stock contests but I still feel like I lost a friend. We are a community, and this hurts the heart.
You never know when its your turn. When I heard of @JRDGold passing, I remember thinking, "Im quite sure he is in the top 10 right now in the Stock Contest." I checked and he was in fact in 9th! Today, he is in 25th place and 5th in the Hat Tricks Contest. Technically as of right now, he is doing better than 98% of the people in the contest, and has a beautiful portfolio gain of 38% despite the recent market trends. He is doing better than almost every single one of us right now yet his time has come. Let that perspective sink in for a moment.
I spent the last week travelling to Toronto for #MIF and #PDAC. It was a better turn out than I expected but was still noticeably lacking. I believe the Corona Virus has scared the heck out of just about everyone.
I've never actually felt the euphoria people talk about when the markets are going parabolic. I've dabbled in the markets since 2001 but never really watched it closely until 2016. I've had some up moments but the downs seem to always feel exponentially worse. When I think of the markets, especially as of late, I find this quote fitting.
This past month has been dreadful to just about everyone. The S&P/TSX Venture Composite Index fell off a cliff.
Notice the 10 year chart has bottomed again. Some may say this is bullish but it is hard to stay positive right about now.
NOTE: All contest statistics can be found on my website www.EverythingEven.com
On January 1, we were all excited for the 2020 year. But we never did have the start we all anticipated. By the end of January, 62% of users were below their January 1st, starting price.
And by the end of February, 85% of users (1,271 of 1,493) in the contest were below their January 1st starting prices.
And to add insult to injury.
Unfortunately there is not much to be encouraged about. The only thing GREEN is my Evenprime's Most Picked Companies SHORT ETF but even that is for jokes and not a real thing.
Crazy to think about it though. I've made 25% average over 20 companies in 2 months and Im not even a fund manager!
Sadly, it appears we may be entering 2018 all over again. To those who forgot - see my article HERE on how bad that was.
In closing, the only good news I can think of is from one of our sponsors, Fireweed Zinc. The news came out at PDAC earlier this week.
This is an excerpt from Goldfinger's article: Gold Is One Of The Few Clear Things Right Now
Fireweed Zinc (TSX-V:FWZ)
"Fireweed just received big news from the Yukon Government on road upgrades, construction etc. which will make Fireweed's MacPass Project that much more attractive economically. The cost of road and bridge upgrades has been one of the challenges for economics at MacPass. In fact, roughly 1/4th of the capex envisioned in the 2018 PEA was due to road and bridge upgrades/construction. Now with government help Fireweed has a new shot in the arm and kick in its step heading into summer exploration season in the Yukon.
Fireweed is another classic contrarian play as the base metals sector has been suffering through a couple of lean years - the corona virus panic has only made things worse for copper, zinc. etc.
Fireweed CEO Brandon Macdonald offered the following comments:
'This announcement is a major step forward toward eventual mine development at Macmillan Pass. I want to thank the Yukon Government and the Ross River Dena Council for their efforts to get this agreement in principle done as well as their ongoing cooperation and support for our project over the years.' "
Stay safe my friends and please remember this contest is only for fun and should not be taken too seriously.
Disclosure: Fireweed Zinc inc. is a site sponsor and the author owns shares in FWZ.V at the time of publishing and may choose to buy or sell at any time without notice.
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