R-E:
<<I am interested in making money which is why I switched half of my PF to energy stocks after the NW fiasco. It has virtually saved me.>>
Obviously a good move over the past few months! I also have some funds in energy stocks, but it's only about 10% of my PF versus 80% for the PM and BM stocks. My fundamental view is that the junior PM stocks are still very cheap and will "explode" as gold starts the next leg of its bull market towards $700 (and silver breaks above $10).
I don't have enough time to follow the other sectors in the way I follow the metals. And *my* timeframe for the mining stocks is much longer-term than most. I've held positions for up to 10 years, taking profits here and there, selling some dogs, but mainly building up a broad investment PF of junior resource stocks.
One of the reasons I seldom "trade" these juniors is the complete lack of liquidity. I believe that if you want to trade you should *really* trade! <vbg> e.g., We have one stock in common that I trade -- CWPC -- purely because of its volatility and liquidity. I don't consider this to be an investment... I don't even know much about it... to me it's just a vehicle to make some cash to survive on (or lose it as the case may be!) These "vehicles" could be anything as far as I'm concerned. At present I'm long palladium futures, cotton and the Canadian dollar, and I've got some straddles on the QQQQ options which I roll over every 2 or 3 weeks. My trading capital is only about 10% of my funds, but I aim for very high and quick returns on that portion -- and I just sit on the rest. Everyone has a different style, different timeframe, different tolerance for risk, etc.
<<Yes maybe I am dismissing them too easily. I guess I'm just getting tired of watching Embry on RobTV and Bishop at the shows pitching the same old stuff like a broken record. While a few of their picks do well, the majority do not and this is something worth noting when investing in this sector.>>
Agreed. I suppose what I reacted to is dismissing someone like Robert Kastner of GLR, who's spent 40 years in this business and has forgotten more about mining than I'll ever know. There are lots of sleaze bags and over-the-top promoters out there who should be exposed, but there's also a large number of hard working people who had a rough time waiting out the bear market from 1980 till 2000.
<<BTW I don't know what pontificating means. Anyway I'm not religious.>>
LOL! Is that really true? <g>
Thanks for your response BTW.
Regards,
Howy |
