in his latest report, gene arensberg says interest is picking up in resource stocks, even some junior miners. he also has a lot more to say about the comex, the etf's and premiums for bullion:

It may just be a case of wishful thinking, but dang if we didn’t see some of the small Canadian resource companies building larger bids underneath and taking a few tentative steps into the offer over the past two weeks.

One wouldn’t know that there was anything happening just by looking at the CDNX, the S&P TSX/Venture Composite Index. The index did manage to turn in a “green” week this past week, but not all that big of one, just up 5.0%, closing at 718.54. By comparison, the HUI surged almost 23% to close at 261.30.

The real action is what has been happening for those of us glued to Level II quote screens following a number of the Canadian miners in more or less real time.

What has been happening with quite a few of them is that very large bids are being put up just underneath the trading. That’s new. “Stink bids,” yes; cheap bids, yes, but we are talking cheap stink bids in size. Not just a few measly thousand shares, but much larger, “I mean business” sized bids of tens of thousands or hundreds of thousands of shares even on the cheaper, more risky issues. The action certainly has changed from a month ago when bids were puny, weak or virtually absent.

What has changed is that now the stink bidders are getting much more serious about taking the shares being thrown out by last minute tax dodging sellers. It shouldn’t be all that long before a little competition breaks out among the bidders. That’s if a wheel doesn’t once again fall off the global financial or geopolitical wagons.

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