I always have my eyes and ears out open trying to find the next big company or trend. I think I have picked up what will be a huge bull market: Diamonds!

I am no Diamond expert but I did a little research and it turns out that Diamond Mining is the most profitable of any type of mining. Diamond mines, when found, are more valuable than even uranium mines. And when compared to uranium, diamonds are a larger industry.

In Canada, there are only about 40 listed diamond companies. This is not a huge number like uranium or gold but it still gives an investor a decent selection to choose.

Of course, every one of these companies wants to convince you that they are on the verge of finding and developing the next diamond mine. Yes, I am quite sure that 2 or 3 or those companies will succeed but most will fail and eventually wither away.

Diamonds are very hard to find but when they are found, it is a jackpot. Ekati and Diavik, the 2 largest mines in Canada right now have a value of over $11 Billion! Even the smaller Tahera mine that recently went into production has a value of close to $500 million. Yet most of our little diamond exploration companies have values mostly under $50 and $100 million. That means that upon a large discovery, there is certainly a lot of room to profit.

Even more important that being in the right stock or sector is having the right timing. I think the timing for share appreciation is very good for diamond stocks. Looking over several diamond stock charts, I see many of them to be lower or at similar levels as they were 2-3 years ago.

Now we can either think of this in a negative light and say that since the shares haven't moved, they won't move in the future.

But if we are to take a contrarian stance, perhaps diamond stocks will move soon in the future. Most silver, uranium and gold junior stocks have appreciated an average of 300-500% over those past 3 years.

Perhaps now is the time for diamond stocks to appreciate similar amounts over the coming years.

I am still beginning to research diamond companies but this is a little overview with some of my opinions on why the sector could quickly turn hot over the coming years making us a ton of profits.

I phoned Diamonds North Investor Relations today so I will post my notes and opinions on the company tomorrow.