| Pretty close to my views on things too. Tom's (loantech) approach is viable, just have to construct an approach to your own style and personality. I just feel it's nice to have real firepower and cash on hand for true buying opportunities like late last spring, just me. I have always been generally constructive and bullish towards PMs, probably more so than even energy, but mostly that's because my personal "institutional knowledge" about precious metals stocks is higher. In otherwords I'm more confident about what I'm doing in that sector, as I've been at it for awhile. The downside however, is that I've also learned what dogs (primarily managements) most of these companies are, so when the larger anti-USD trade goes to extreme (defined as fund/specs pile ons and offside trades, something that has to be SWAGed)then I get nervous holding these stocks. My advise for those who choose to maintain good exposure in PM stocks: keep some dry powder, and of the names you hold, stick with more liquid names, that might also be subject to a long overdue munch (takeover). Right now I see three high profile juniors where that could happen: GBU.to, CLG, and MNG. I'm also playing NTO (mostly copper, some gold) aggressively right now, and still have my full copper future position. Of course if gold corrects these stocks may sell off hard, so don't whine after the fact, just step up and buy full positions instead. The junior that has the superior management (know and have worked and met with them personally) is AGI.to (Alamos). AGI has had a well deserved run, and I'm now out on a price basis. In theory I consider myself a long term holder and I'm always looking for reentries (such as the one at 1.90 in May) to get back in. AGI will likely be getting an Amex listing before long as well. |
