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Mega Buy
Oh no! It's the end of the world! Big News was that TSX loses 623 points in just a couple days.
It's funny that right before this everything was so positive with Gold hitting new highs and newspaper articles talking about fund manager's "herd mentality".
So what does this all mean?
Well we are at a very volatile time in our markets with large moves up and down with a general flat trend. I myself am holding put in my positions and establishing some test postions in some beaten up stocks.
What stocks?
Well the first I want to talk about is Mega Uranium (mga.to).
If you look Mega's chart there is nothing bright about it. The stock is off of its highs in the 9 dollar range to its current price below $3!!!
So yes you can say it has taken a beating!
But the thing that I find very positive about it is that Sheldon Inwentash, its CEO has been buying up the stock hand over first the last month or so in the $3 level.
This is a man who has made money time after time with stock after stock. In other words, this is a man who has a very good reputation and who's actions we should watch closely.