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Gold/Mining/Energy : Precious and Base Metal Investing
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To: marynell who wrote (3998)5/29/2002 10:54:21 AM
From: I_C_Deadpeople  Read Replies (2) of 39344
 
General comments to all:

I think all of us who have been in this sector for the last few years or longer are feeling the same way. Certainly we waited a long time for the "obvious" gold bull to start. Now that it appears to have started we have the little voice in the back of the head saying "sell everything it can't last!!!". We all know the power that the Central banks and the Fed have and I begrudge no one for taking profits at this point. Two years ago we would have killed for a 50% gain let alone a 300-500% gain. And as Russ mentioned in an earlier post, it is really all about having a strategy. If you are not playing for the gold mania then taking profits now is a smart move.
Personally, I am in the gold mania camp and I do not expect to start reducing my overall metals position until $400 POG. At that point, I will begin reducing my portfolio percentage 5% per $25 POG increase. I would be completely out before $800 POG. Of course, I would be buying selling various stocks within the portfolio as certain ones were better value than others.
But, I have to say that it is a weird feeling holding a stock like MFL at $6 when I bought it at $1. Again, the value of these stocks are of course a reflection of the direction of the POG. What is MFL worth at $400 POG, or $500 POG? To me that is the question. The question is not, is it overvalued today.
If the POG does keep going up I only hope I still can keep a clear head and stick to my strategy.

Anyways, I am rambling...just thought I would throw my 2 cents in ( Canadian cents that are going up in value that is)...
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