Hi Terry. NG trying to bottom
But NG stocks which held up relatively well in Jan and Feb well when the commodity broke down, now look like they are going into a selling climax that could gives us a capitulation washout.
BUT, how far can they rally in time and price considering we have fall shoulder season AND tax selling yet to come??!!
Looks like maybe a good trade coming up, but that's all. Then we'll need to test the lows later in the 4th qtr.
The golds, OTOH, have been gangbusters for me since building initial core positions last Mar/Apr. And adding significantly on the most recent dips during the past month.
My 4 biggest holdings are GLG, KGC, GG and - per buys yesterday - Newmont Mining $3.25 cnv preferred. Preferreds generally trade on low volume. Wasn't trying to run the buy stops, so was amused to see both vol and price take off yesterday after my 4 trades broke it out to a new 52 week high. And no delusions of granduer either<g>
With a $42.17 basis, my yield is 7.70%
As a professional investor, don't have another income from a day job. Because part of my capital therefore has to be dedicated to income producing investments and because of the major changes in the market and the economy ytd, I've had to to change even my longer term income selections.
Last Spring sold all my large NG royalty trust holdings. They'd been great for income and for cap gains. But could see it was time to exit.
Until recently, my high MM Fd cash satisfied all income requirements till ST rates really tanked (the past 2 mo).
So based on my evaluation sector strength into next year, the NEM PR is really an excellent choice for my personal portfolio needs. And my DD on the gold sector indicate the pr will give me some nice cap gains as well as more than excellent income in the months ahead..
Have been very ill in the last few weeks, and only making max of one post/day on the few boards I write for.
Hope nobody on this thread takes it personally if I don't respond to public msgs in the days ahead.
Best regards to all,
Isopatch |
