Mickey Fulp, the one and only Mercenary Geologist, gets into the down and dirty of market performance for April. The Canadian Government/Mint has thrown in the towel on the penny. Did you know a Canadian Penny is worth 1.5 cents? How’s that for guaranteed return on investment? Also, Uranium is down, but hardly out! Japan will be restarting nukes again very shortly, and the rest of the world is building them at an incredible rate.
Natural gas should be buried and put out of its misery shortly. The price hit $1.96 per mcf last week, and there’s no relief in site. However, for those drillers who have “take or pay” contracts in place, or those with wells producing generous amounts of wet gas, the price drop is less relevant. Emerging markets were down in March, but they are still up smartly for the year, as were the Dow and Nasdaq. The Shanghai Index is looking very oversold and ready to crash. BUT gold and silver are up today and still up for year.
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