John Feneck: Bargain Hunting Ahead of Post-Summer Rally, 8 Stocks to Watch
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"I think that if you have serious money, you really need to be thinking about putting some of it in our sector now," said John Feneck of Feneck Consulting.
Summer is typically a quiet time for the mining sector, but that doesn't mean investors don't have work to do.
Speaking to the Investing News Network (INN), John Feneck, portfolio manager and consultant at Feneck Consulting, said he takes seasonality into account when positioning in stocks, and encouraged others to do so as well.
"We're taking July and August to position into some names thinking that we're going to get some type of rally from late August into November," he said. "Summertime and in December as well, when people aren't doing their homework, is when we're doing most of our work, because this is when you can pick up some huge bargains. If you feel like doing something with them and disposing of them later next year or the year after, you're going to make some considerable money we think."
Feneck shared updates on a number of companies that he's previously discussed with INN, highlighting recent news from Ascendant Resources (TSX:ASND,OTCQB:ASDRF), US Gold (NASDAQ:USAU), Canadian Critical Minerals (TSXV:CCMI,OTCQB:RIINF) and Stillwater Critical Minerals (TSXV:PGE,OTCQB:PGEZF).
He also spoke about other companies that are on his radar right now, mentioning Spark Energy Minerals (CSE:EMIN,OTC Pink:MTEHF), World Copper (TSXV:WCU,OTCQX:WCUFF), Canadian Palladium Resources (CSE:BULL,OTCQB:DCNNF) and Champion Electric Metals (CSE:LTHM,OTCQB:GLDRF), formerly known as Idaho Champion.
"I think that if you have serious money, you really need to be thinking about putting some of it in our sector now," he said.
Aside from stocks, Feneck spoke about where the gold price currently has support and resistance, saying that US$1,790 to US$1,800 per ounce is still a line in the sand, although the US$1,820 to US$1,865 level should also hold. In his view, the yellow metal continues to hold up well, even on the back of strong US economic data and expectations for more rate hikes.
Watch the interview above for more from Feneck on gold, other metals and the companies mentioned above.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Ascendant Resources and World Copper are clients of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
