The markets were mostly sideways today beginning to the downside, heading above and retreating back to a modest gain.  Gold is continuing is march to new highs on the back of the US dollar for the most part.  The Canadian dollar meanwhile is trading above $0.95 and the trend seems to be continuing.  We’ll have to get Carney back on the case to start talking down the dollar and push it back a few cents.  Oil has seen some downward pressure after the inventory reports this week show an increase in supply.  In the long term oil will certainly break new highs, as for now it’s certainly safe above $60 but may see the price continue to errode below $70 is certainly possible.  But enough about the markets.  How about the penny stocks?
Yesterday’s penny stock picks:
ELR.TO – Open $0.84 – Close $0.84 – Unchanged.  But the stock has been downgraded by an analyst.  Maybe time to re-evaluate this one (source)
CQE.TO – Open $3.32 – Close $3.
30 (-0.30%) – More news on one of the acquisition today (source) which is dilutive to their shareholders so this is slightly off on that news but most of it appears to have been already priced in.

Hope everyone has a relaxing weekend.

PS: There are posts lined up for both Saturday and Sunday for the keeners who can’t get enough!

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