Merry Christmas to all. I normally publish my weekly commentary every Saturday morning before 9:00 am, but since Saturday is Christmas Day, this week it’s an abbreviated Christmas Eve edition. (If you want stories of inspiration and Christmas cheer, please read my ramblings from last week, Three Stories of Christmas Cheer).
I began writing this block back in November of 2006, and one of the first stocks I commented on was in this post titled, somewhat arrogantly, Initiating Coverage of Cline Mining (as though my “coverage” would mean anything to anyone). Back in those days CMK.TO – Cline Mining Corporation was trading for 50 cents. I’ve commented on it many times since, and earlier this year I increased my holdings, and I’m glad I did. My most recent extensive post was on March 26, 2010 where I asked the question: Cline Mining – Time to Buy? The answer, as it turned out, was yes.
Cline Mining Corp.
You don’t need any technical expertise to understand this chart. From $1 at the end of July to $4.21 on Christmas Eve, Cline has had a great run, with $1.20 of that run happening in the last two trading days, thanks to approval for a new mining plan.
I still like Cline, and while I may lighten up a bit next week to lock in some profits, I expect I’ll be riding it for a while longer.
As for gold stocks, it would appear we are pausing before the next run.
My reading of the AEM.TO – Agnico-Eagle Mines Ltd. chart would indicate a base around $75, so when the Toronto market re-opens on Wednesday, some post-Christmas shopping will be in order. I’ll report back next week.
What will 2011 hold? I assume further strength in precious metals stocks. What do you think? Record your thoughts in our third annual reader-prediction survey over on the 2011 Prediction Board at the Buy High Sell Higher Forum. (You can read our 2010 Predictions here; next week I’ll report on how we did).
Thanks for reading for another year, Merry Christmas, and may 2011 be, to paraphrase David Rosenberg, profitable on a risk adjusted basis.
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