Yesterday, I picked up 2500 shares of Impact Silver (TSXV:IPT) at 0.97.
Stock Trade Commentary
Silver has been moving up on USD weakness so I decided to take a small position for a quick in and out of IPT. For me IPT has a lot of intrinsic value, they own more than 600sq km of land with profitable operations and no debt. They grow their production using their cash flow, no dilution. That does not mean that IPT mimics the price of silver, it is just a solid junior silver miner. If I am to keep holding IPT for the next 5 years I would feel very comfortable given the fundamentals.
Q2 report is due by the end of the month for IPT. I am already holding 5000 shares in my TFSA account at 1.08 for a long term hold. I will be updating the cheat sheets (stock picks pages) for both IPT and FVI soon.
I am starting to feel uneasy about the economy. I need to see new jobs in the US; I need to see stable growth even if it is small. September, a negative performer historically, is right around the corner. I am almost tempted to sell some stocks at no loss and wait for a buyback opportunity for the same stocks at a lower price. The problem is I would be market timing and I don’t believe much in that!
Finally, for those who missed it: China is the no2 economy right after the USA. It just kicked Japan into the third position. It’s only a matter of time before they move into the number 1 spot. I am looking forward to the Chinese contributing to pulling the world out of this recession.
Are you invested in PM stocks? If yes, what’s your take on the price of Silver?