Slider, OT
Congratulations on your gold stock purchases, those are good companies to play for pay.
I caught the bottom with a limit order (4 weeks old) on my favorite AEM at 5 3/8 last week. I love it when I hit a chart target exactamundo, but I am very familiar with this stock.
Message 13525036
AEM is worthy of consideration if you are looking for a longer term "hedge", by the end of the year their costs will be much lower, down to low $120/ounce range, due to opening mining production in new zones with proven prospects. Production has just begun in those zones I understand and ahead of schedule.
A good solid little company with a good reputation, not a canadian junior type, their last earnings report was effected by the final production of some older zones with lower gold content, which yielded a buying opportunity in AEM.
KRY also has a noteworthy chart and just had a good earnings report.
The fact that gold has gone up in face of pending BOE and Swiss sales, the XAU holding and leading, POG turning at an important support, combined with the inflation numbers and the CRB breakout all add up to maybe me holding gold stocks longer than usual here. But with caution and a close eye kept on the basket of gold stocks.
Greenie can still take the punchbowl away for gold stocks on the 16th, I've been there other times when he has over the years, but he'll probably have to blow up the Nasdaq bubble even BIGGER to do it this time. I don't know if he can or will do that...
Best of luck with the yellow junk,
Roebear |
