The foreigners are still selling (by the billions at that), but our market is demonstrating resiliency. Resiliency to the point that the bounce is high and seemingly persistent. Why is this?
It pays to read disclosures and you can see that the owners are buying. the Cos of PGOLD, the Laos of DNL, even the Concepcions are buying. This means that they think that their company was cheap after the steep sell-down, and that the their business is still growing.
I have PGOLD, MBT positive as a result. (MEG should have been in this list). Thinking of selling at +5% (going back to that strategy, yes), until the foreigners start at net buy, however small it is, just so long at it is consistent.
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