GTE was very oversold and it was due for a bounce. Bouncing hard it is indeed, kinda wish I had more in the tank but filled up on MEG/CJ/CPG after reducing GTE holdings.
MEG and others with debt in US$ will be doing well in this environment. The US$ debt burden for them has dropped by 15% over the past little while. This includes old forgotten CNE as well to keep this to the Colombia theme which has the debt burden dropped by $37 million Canadian dollars in short order.
I think the debt equation is being overlooked by many and a few of the analysts who are usually late to every party (eventually the light bulb will come on in their head) and at some point will be the clever first ones to publicly mention this, then main stream media picks up the story and eventually the herd follows to new golden picks.
GLA...