TSX-V (Daily - 1 Year)
I've seen some pretty remarkable things over the last couple of months, whether it be the percentage losses in certain names like GTT, or the Bridgemark Scandal, or people calling for the end of the TSX-V. This is the sort of stuff that one tends to see near major bottoms. But after a year like this how can anyone have any confidence in being invested in any junior resource stock?
And then a post by @luctenhave reminded me of why we're all here (even if we don't know it yet):
10-baggers are nice don't get me wrong, but it's the 30 and 40 baggers like Virginia (chart at left above) that really make it worth sifting through all the bullshit in this sector.
Moreover, even in this awful year of 2018 there have been plenty of opportunities for big trading gains if you played your cards extremely well. This isn't a buy and hold sector and stocks like Virginia (that you can literally hold all the way to a takeout at its all-time high) are 1 in 1000. But man if you are in one Virginia you'll be hooked forever (my father owned Virginia shares from mid-2004 through to its takeout by Goldcorp and he was indeed hooked after that).
Call me crazy or whatever other names you'd like to call me but i'm an optimist. Not a blind foolish optimist, but an optimist nonetheless. I am optimistic on the precious metals and junior mining sectors heading into 2019. From the ashes of 2018 we can generate the fertile soil for a great year ahead.
Which stock will be the next Virginia?
DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.