QUOTE
"As usual, most of the first Journal issue of the year is given to that
annual exercise in masochism known as predictions for the year.
We note several potential problems but, overall, we think the markets
should be ok, and the sector we deal with will be more than ok.
There has been a small pullback to start the year as those who waiting
for the next tax year to book profits have been putting stock in the market.
We won’t be surprised if the pullback gets deeper before its
over but we are not concerned about it. We’re used to being contrarians
which may explain why we would be more comfortable if there was
some correction in venture companies and some of the base metals.
Given we were about the only people around recommending both of
those near the start of 2009 we think we’ve earned the right to be
cautious. Cautious is as far as it goes however. The exploration sector is as well funded as its ever been. After several thin years, a number of
new discoveries arrived last year. All of those and anything near
them will be getting lots of spending this year. News flow should
be even heavier than 2010. There should be lots to trade once a bit of
start of the year portfolio management has been gone through.
We’re looking forward to it."
David Coffin & Eric Coffin
GLTA Lostoutwest
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