An altogether bad week

What a bad week.  The Libyan resistance isn't getting any meaningful support (does this ring bells of Taiwan's 228 tragedgy?) and there was a massive Richter 8.9 quake in north eastern Japan.  Subduction type earthquakes are the largest ever recorded and this one was over 100x more powerful than the transform fault type quake that hit Christchurch, New Zealand last month.


Japan (and Taiwan) is an island arc - the end result of a subduction zone

On the markets, the TSX sunk from record highs and despite strong gold prices, the mining stocks collapsed.  My bet on Northern Dynasty Minerals is looking pretty grim, but I dumped my Kinross for a $900 loss and traded it in for more NDM.  It's been said many times that NDM is for sale.  Looking at the ownership structure, I wouldn't be surprised if Rio Tinto bought out management and the other shares outstanding.  That would put their share at about 89%.  They would then be half owners of the Pebble Project (Anglo American owns the other half).  So, I'm hoping for that day to come in 2011 so I can cash in on the Pebble Deposit.

I've also decided that I have to set aside about $1000 to make frequent trades on penny stocks like FDC-V, MIN-V, VAE-V, and RG-V so I can keep my active trader status.