Helicopter Ben was unable to save the markets today. Red all across the board save the precious metals. Gold has been moving up and two of my miners - GRZ and KRY had absolutely phenomenal days up 50% and 28% respectively. They were my plays on what I like to call 'Hugo ain't crazy' . Both are Venezuela based gold mining companies that were waiting on environmental permits. GRZ got theirs today hence the crazy price movement. I backed up the truck on a few Venezuela plays a few months back due to concerns that Hugo Chavez was going to nationalize companies and screw over shareholders. Nationalize he might, but screw over he won't. The market overreacted and I took advantage by buying VNT, HNR, TX, GRZ and KRY to name a few and hence the portfolio profited handsomely. Bottom Line: There is always money to be made in market overreactions.
Sometimes trading the market feels like this....
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