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Politics : Welcome to Slider's Dugout
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To: SliderOnTheBlack who wrote (382)8/11/2005 11:07:03 PM
From: chainik  Read Replies (1) of 50650
 
Slider, many of the gold bugs (including myself) are expecting a major leg up in gold miners starting in the not-too-distant future. What makes you so confident that this is not IT? Can it be the start of the major run in anticipation of the end of rate hikes?

We had a huge day last week on strong volume, retest, and another huge day today, again on very strong volume. Nothing wrong technically.

Sentiment appears to be cautious. Most of those who bought HUI at 170, have covered around 200-210 (it certainly seemed prudent).

Please don't remind me about your profits safe in the bank, cash register etc... (g). If this is a start of the major leg up, taking profits after a 20% run is not the best strategy. You made this point yourself in the past - numerous times. Same about risk/reward. If this is a major leg up, rewards in speculative miners may be huge. Risk? What risk? GSS 2.20? MNG 0.80? Dez 1.20? Using your logic, on the time scale of a year risk/reward probably favors the long side. But what makes you think that on the time scale of a few months it's better to stay aside?

BTW, I covered my last two trading positions (DEZ and NTO) today; back to the core. In contrast to you I am not sure, however, that this was a smart move.
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