Apologies for my extreme busy-ness this week, but it’s Derby Week, and things get kind of nutty around here. I wanted to point out, however that Thompson Creek Metals (AMEX: TC) (PPT: Buy) is taking off again, here ($6.72, +0.45, +7.10% @10:32 am), and given it’s relative valuation (less than 5x LTM P/E), I think it has some room to run. I’d wait for little pull back for entry at this point, perhaps to the $6.50-ish range.
What’s more, the recent X bad news didn’t even put a crimp in TC’s stride, which goes to my overall Jacksonian Thesis that the Chinese Government and other large Positive Current Account holders are going to begin moving from the under-fire $USD to a more suitable harder form of assets, with a focus on those assets that concentrate on steel making and ancillary construction materials. You see, I believe the Chinese will be looking to take the FDR-route out of this Depression by building many useless things and a few useful ones in their own countries, both to keep people employed and to build out their First-World infrastructure and transition from the Third World net exporter status to a more balanced (and less U.S. dependent) economy.
Look for more infrastructure and hard asset plays to come. Be well — literally in the case of you besieged Swine-flu City people (remember to check with the Caveman for market updates on that sitch).
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UPDATE: QSII (PPT: Strong Buy) BTFO @ $53.95, +2.34, 4.53%)
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