The sentiment level for AUM most of last year was terrible, and I read way too many posts that pointed out how the stock was grinding lower while others were moving higher, or how AUM was down even as silver was up. Some people speculated that there was something brewing behind the scenes to justify that underperformance, along the lines of 'the market is never wrong...'. My experience suggests that market is wrong all the time. It is the willingness to buy good companies when the sentiment stinks and the market is sending scary signals that can build the biggest returns during a bull market. And to think how many people are too dumb even to spot a bull market...
This month AUM has been leading the sector higher. Even as many of the other juniors have been ignoring the strength in gold and silver, Golden Minerals has been trending higher in an uptrend. Those who saw fit to whine on the forum day after day when it was going lower seem to have overlooked this fact. Even that idiot Inka Klown was quick to post his stupid charts showing ECU at the bottom of the pack last year. I do not bother to read his nonsense but I will hazzard to guess he has not been posting any charts for AUM lately in relation to the rest of the sector. No bias there, eh?
It precisely the action of the idiot shorts that probably explains why AUM is moving up now, and was trending lower last year. When the next updated short interest is published for AUM, I will expect to see a nice decline. People can rant and rave, point figures are short term action, and speculate on scary unknown dangers, but at the end of the day a good company will command a stock premium worthy of its inherent value. I think AUM is a very solid company, and it will eventually regain all of the lost ground during the bear market phase. I am just going to enjoy it while it lasts though, because ups and downs along the way are inevitable and its just a matter of time until the bears are at it again anyway.
I bought more AUM in the fall and I am still underwater on the extra shares. I fully expect to sell for a profit though later this year.
cheers!
mike
