Friday, April 3, 2009

A More Normal Market

I think we are seeing more normal market action even in the face of some bad unemployment numbers. Even though the market is hitting strong resistance, it is wanting desperately to break through and run. Those of you that took my little "elbow in the side" and took some CENX have most likely seen returns in excess of 50 percent. With a book value close to 20 dollars a share and rumors floating everywhere, we will see a large run up to earnings, unless the rumors pops open to truth before then, in which case we will see 6 dollars out of this pretty fast.
That's the life of speculation ; you win big some of the time, and loose your donkey other times. This time, however, I believe my donkey is coming home to stay. Next time I'll keep him chained right on to me.

Have a good one,
Roger

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