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Musician, Active Trader. Reading the Music of the Markets, One Crescendo at a Time. Past Floor Trader, Branch Manager and E.F.Hutton alum, keep listening.
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Kevin B. Bantz
  • Coming Collapse In Juniors, Miners And Energy 0 comments
    Apr 24, 2013 2:35 PM

    In the early 1980's I used to get a publication called, "Penny Stock News" and you could buy miners and energy 'units' for about $2.50 a unit. (You have to remember though, stocks had been a dead asset since Led Zep I came out.) These juniors were all hiding in and on the AMEX exchange. I remember the phone calls, the hard sells, so I could get myself a piece of a well or a mine.

    Fast forward to today and Deja Vu all over again, except this time there will be no toe stubbing. I came across a longer look of the AMEX Index and what we've seen so far is only the foreplay of what will hit oils and metals.

    Remember its ok to be the first one to leave a party, you can go home and lay on the couch and watch 'Backyard Oil' Barrons.

    (click to enlarge)$XAX AMEX INDEX

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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