Got into NXG @ $3.21 and cancelled my one-cancels-all on CENX and BCS.
One-cancels-all comprised of:
CENX @ $9.10
BCS @ $9.75
I figured I missed the BCS dip to break its 52WL @ $10.10 today and although I've been looking for long term selling opportunities on XAU/USD since Lehman, I am on the verge of admitting it may not happen just yet - or possibly, ever. Every time risk is on or off, gold continues to defy gravity. Central bankers are at play, but so are gold miners - and obviously investors.
NXG has more cash than debt, but is losing money. Still, it has both gold and copper - and I figure if gold crashes, copper must be worth something. The only bad news is that it is low beta and no dividend. Yet, it operates in Canada and Australia with actual gold coming out of the ground. I'm going to use my favourite line: it could become an acquisition target...
P.S. NXG = Northgate Minerals...
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