Playing the oil breakout-suggestions on good juniors?
April 06, 2010
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RELATED TICKERS: BQI
Covering most of my shorts, except a couple puts and hedges..I have to accept that an overbought market can remain overbought...and the market believes in a full recovery. While I have my doubts, in that the entire "recovery" is based not on production, but by government fueled debt consumption...and bear in mind there are land mines all over the horizon (bankrupting states and cities)
That said..China continues to buy massive resources..so I must do the same. The energy majors are yet to make a significan move...but they may.
I think a better approach would be to look at oil & gas juniors that could be acquired...especially in the Canadian arena.
I took 2 longs today, BQI and CMZ in this space. BOth are unratable on CAPS for now. I also bought ICAD in the medical imaging space at 1.48, as it came back down to its base.
I'm keeping the plays small, as my porfolio has been wounded...but I think BQI could be a multi bagger.
Any FOOLISH suggestions in this space?
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