I'm not a nervous Nellie. I have about 65 per cent of my portfolio sunk into CUU and it's a fair chunk of my net worth.
But I've been watching a lot of analysts on BNN over the past few weeks talk about how they are staying clear of commodities in this uncertain market. I have seen a few recommend oil plays, mostly dividend paying stocks, but I'm hard pressed to remember more than one who advised now is a good time to jump into even the most promising mining stocks that have taken a beating and look like they're due for an eventual recovery. The one exception was a fellow who said this week his brokerage firm is taking a hard look at Teck and HudBay.
Then I came across a link to this video making the rounds on Facebook. Before you dismiss it, watch it. You may not agree, but it is worth considering. I think a lot of players in the game, including many of the major institutions, are positioning themselves for another huge pullback due to another recession. If that were to occur, how far do you think Copper Fox could fall? Could we see 50 cents again? 20 cents? If an enormous hole is blown in the global economy over the next several weeks, primarily due to a possible European collapse, and the BFS still isn't out, how do you think CUU management will act?
For the record, I'm sitting on a cash position that I'm comfortable with. I'm going to keep adding to it in case Foxy hits rock bottom again. I think the current price is a bargain, but if it becomes available for a fraction of what it is now, I want to be able to buy, buy, buy.
http://www.youtube.com/watch?v=TdYzQvnM1aY&feature=player_embedded#!
