T-
Concerning gold, I am surprised we don't have a stronger move in the gold mining stocks myself. I'm not sure exactly when SI SD became a gold thread but I believe it was about 14 months ago. If you look at a chart for NEM, one of the gold bugs' favorites, from the time they started touting gold (call it July/August 2000), then you have a share price going from about $21 down to $13.50 or so, up on a sharp spike in May of 2001 to $24 and today it sits at about $22.30. So, assuming you bought when the call went out, you're up about 6% for 14 months. Of course the gold guys will retell the story that they doubled down at $13.50, sold it all at $24, then reestablished positions at $18.10 or so and you may wish to believe it.
siliconinvestor.com
As I noted at the time, I wasn't interested in investing in gold primarily due to my own laziness as it seemed you needed to follow the story through quite a bit of conspiracy style twists and turns. Had someone told me of the WTC bombings in advance I would have invested, and like you I am surprised there hasn't been more of a move in the gold stocks. Maybe it will come when the bombing starts.
You know, it's interesting but the gold index itself, viewed from the roughly 14 month perspective from when the gold bugs began, has gone exactly nowhere, to date. Interesting, eh?
siliconinvestor.com
I'm much happier with my builder short positions (HOV TOV WLT AHMH) which I put on in the innocence of August. JimP has done a great job of bringing to light short opportunities in KWK and PENG.
And, since oil drillers have been so good to me in the past, I'm pretty focused on watching the OSX fall this autumn and hope to have invested in selected companies later this year when they have gone completely oversold.
Kb |
