Thanks for your perspective Rarebird.
If I may ask - and sorry if you've already discussed this in a previous post - what technical analysis have you done by which you derive your $727 gold target? I'd be interested to know.
((Gold Mining stocks still have a long way to fall.))
Are you primarily referring to the seniors here? Or the juniors as well?
FWIW, I currently hold Pelangio, Andina, Osisko, and Chesapeake (from largest holding to smallest). I trimmed my holdings of pm juniors about 6 months back, and have recently added the Osisko position, and added to my Andina position after trimming it some months back. Andina and Osisko in particular, along with many gold juniors, have been hit pretty hard over the past 6 months.
Pelangio/Detour, OTOH, has bucked the downtrend, and Andina spiked 15% on Friday on the promise of an economic sulfur deposit. While I generally like to trim back my holdings of juniors in a blowoff top, once the air's been let out (which I feel it has been in the junior PM equities, although we may still be in a corrective stage in the juniors), I like Claude Cormier's approach to holding onto select quality juniors for their exploration potential, if the risk/reward ratio makes sense.
Thoughts? Comments?
Thanks rb.
glenn |
