VGZ - 1st trade of the new year

Now the fun begins. The pig is down big on manufacturing contraction, profit taking and naughty Wall St. pro's with bonuses firmly in hand. Gold & silver, among other hard assets (to be discussed going forward - oil breaking out) are in launch mode, with gold headed for our 920-940 target. The fun part is because I held everything and added to beaten down tax loss selling victims in December and now there is no need to scramble for positions and in fact we can look at picking up some other beaten down stocks that have not yet stirred. My first trade of 2008 is Vista Gold (VGZ) @ 5.05 off of one of those chart patterns that I just find 'feels good'. I became aware of this stock by a blog reader last year and have had it on watch ever since. The company spun out Allied Nevada Gold (ANV) and retains a nice low cost business model with at least one Mexican property beyond the feasibility stage. But I am not a fundamental analyst when it comes to miners, so if there is any interest you must go and read the reports, PR's, etc. I have simply bought the chart here and may sell at a moment's notice... or not. ;-)