I had a hunch that the irrational stock market would surge after the US elections. It was delayed, but today, the TSX and the Dow hit pre-recession highs. My bet on MFC-T paid off, but I could have made even more money (sold too low). MFC-T rose over $1/share even though it lost almost $1 billion. Weird. I'm not one to believe that QE2 by the US Fed is going to work. As others have pointed out, it's meant to devalue the US$ and export the pain to US trading partners. After cashing out of MFC-T, I decided to put some cash into TKO-T which took a big hit yesterday when it's mine in BC was rejected by the federal government. Now, this mining company has a PE of 7.4 and I think this is a buying opportunity. I hope I'm right!
Well, I really cashed out of MFC-T way too early. It's continued to go up to almost $15 on Nov 5. Darn it!
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