Tuesday, March 1, 2011

Mining Play

I did this before with ORE and was quite successful with it.  Lately, MA has been enjoying substantial increase on its prices due to the news that PX has been interested on one of its mines.  I am tempted to get some MA shares because of this, but as soon as PX had a mysterious drop yesterday, PX seemed like a bargain for me.

I was able to buy near the low at 14.3, with ATR being a major seller this morning.  Despite the positive news on the earnings of PX and the nearing ex-dividend this March, major brokers (foreign) went out and shifted towards AEV.  The MCPI has reportedly adjusted the weights of involved stocks, and AEV greatly benefitted from it.  Meanwhile, ICT and PX bore the decrease in prices due to the lessening of their weights.

I used my "sideline" money in buying PX and some of PCOR (oil play).  I've got to replace this ASAP.  Possible sources would be from AGI (good thing prices went up for a gain) and DMC (slightly negative).

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