Is this thread Survivor Island or is it still Natural Resource Stocks (vbg) ?
Am I the last "True Believer" here, or what ?
Does anyone on this thread still own any goldstocks !?!?!?
Did ANYONE here buy anything in the Golds Today ?
This may be the first time I've NEVER seen anyone post that they were a buyer into weakness...and I can not believe that people are stopping out here either - If you bought into the blow off last monday/tuesday and/or the Friday before that... nothing should be triggering any stops here imo ?
I still think this is an excellent BUYING OPPORTUNITY ~
I'm sure the Gold Funds are getting redemptions...today the Short the US Dollar - LONG Oil/Gold/Commodity's Trade got whacked.
There was no significant volume dumping in the Jr's other than AGT....and they are getting killed on weak volume.... I'll buy directly into that.
It was the Institutional PM & Commodity Fund - liquid fav's like NEM ABX PDG AEM FCX PD N that got blown out on volume today.
Many of the mid-tier Golds & explorers were down 3-5%, but on weak volume.
Fwiw...I'm still sticking to my plan and I am still a buyer - still looking to accumulate here...waiting with limit buy triggers 10-15% lower than below my recent purchase levels, especially on theJuniors & Explorer list below.
re: "The plan"
Message 21235787
{"1/2 way between former 150 resistance level & prior HUI 190 pullback is HUI 170."}
Again; I can not believe that those who stepped in here to buy on the 4/29, 5/2, 5/3 sell off that saw a nice little trading pop...only to fall back to the same basic levels here - are dumping, or stopping out here already ?
And for those who didn't enter on that first blow off...where we saw a nice quick 10 point HUI bounce...they got another opportunity today...and no takers ?
Here is what I accumulated on that original sell off:
Stock.............4/29 - 5/2 -5/3 prices......today's close:
GG............... $12.65 - $12.90..............$12.85
MDG.............. $15.00 - $15.20..............$15.14
CDE............... $3.00 - $3.09................$2.97
KRY................$3.50 - $3.68................$3.40
NG.................$7.56 - $$7.67...............$7.29
Those 5 represent my main holdings, about 70% of my Gold Basket.
I'm 50% portfolio weighted to Goldstods....70% of that in the above 5 stocks & the remaining 30% in a Jr/Explor basket of mainly:
AUY
GRZ
NTO
OZN
IVN
then, very small amounts of:
GSS - flipped a bit off my first by for a nice little trade pop
ANO
BGO
CBJ
CLJ
MFN
MRB
EGO
Even in the Jr/Explrs...most of those stocks are flat, to +/- pennies here.... not down enough to be close to stops and not up enough to flip.
My main watch/wish list is the following on 10-15% weakness from those 4/29 - 5/2. 5/3 purchase levels:
The 2 I'd love to really load up on are - NG & KRY
Then: AUY, GRZ, IVN, MRB, GOLD, MFN, CLG & a little CDE, WTZ for silvers.
I just raised a little bit more buying power - closing out some Oilpatch Shorts today... puts had good leverage & nice profits.
FNM Puts have been my largest single holding for 6 months... if I see $45-$50 in these... I'm going to Disney World:
finance.yahoo.com
Homeboy shorts worked today...have to do some dancing in & out occassionally on these guys...and not get greedy; because the 10 year isn't straying too far from 4-4.25ish. Hopefully we'll see a 5.00 - 5.25 before the Fed is done.
I hope we get a chance to see HUI 150ish levels one last time as i think Gold still has a 50:50 chance of making a run to $500 before the year is out.
....and I smell another "Black October" being set up.
China Re-Peg is coming....the Big Old Euro Money is coming to Gold as a Hedge to falling paper assets and as a final whack to the USD... post the China Re-peg.
...don't get caught completely out of Gold here.
HUI:POG divergence is extremely attractive as is Sentiment negativity.
I can't remember too many opps in this cycle to where the stocks were at a discount to the commodity and to where sentiment was this bad...given that discount.
- you MUST buy those opps when they appear...always. |
