<< I have been waiting for how many years for the big bull to happen... >>
The moment that we have been waiting for has finally arrived ...
I hope.
Mark, I would like to focus on one gold stock and just trade it and the XAU to keep it simple. Is AEM the best choice in your mind for a trading vehicle for this golden bull?
I now hold AEM, AU, GLG, and NEM having taken profits (yes, profits!) on DROOY yesterday. I would like to sell all four of these at a profit and then just buy back XAU and one stock (AEM?) to try to ride the rallies. I know better that to be short gold stocks at such a time as this.
FWIW, I plan to phase in and out of my trades instead of trying to jump completely in and out of positions. I expect this bull market to last months (if it is real) and I don't want to completely miss huge moves. So my strategy will be somewhat like Zeev's with the general market. When I think that POG/XAU is topping, I plan to reduce my exposure to ~25% of a full position. When I think it is bottoming, I will move to 50 and then 75% committed. The last 25% may just be for short-term bounces. Similar to a core/trading position strategy, but the main idea is always to have cash to buy more on a bounce and always to have stock in case it explodes upward. With my limited time/expertise, I think this strategy will give me peace of mind and allow me to enjoy the rallies without giving it all back on the pull-backs.
By the way, you mentioned that one day we will wake up to POG gapping up its maximum amount. Is there a maximum amount? What it is?
Thanks so much for all of your wonderful help. I hope to ride your coattails on this one and trust that we will both be quite profitable. As I like to say, with your intelligence, and your good looks, we can go places!
Take care - HB
Edit - POG hit $269 in Sydney about an hour ago. I am hoping that it blasts through $270 tomorrow, but wouldn't mind if you pull the XAU back to 50.5 first so that you can get on board. If you do, I will probably add another position too. |
