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Pastimes : The Philosophical Porch

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To: Real Man who wrote (3978)	4/6/2009 2:31:08 PM
From: Rarebird	Read Replies (2) of 26251

The Miners are just a trade, not a buy and hold affair. The "gold bugs" refuse to understand that. Those "gold bugs" who blindly held on in 2008 through the collapse in mining shares will be the same ones who will refuse to sell later this year after the Miners double (or perhaps triple) in value from current levels. But the current correction in gold mining shares is far from over! From a trading point of view, it is important to understand that chart followers and momentum traders are looking for any trend which persists for an extended period of time. They couldn’t care less whether the market is moving higher or lower; they are looking for some kind of quantitative measure that a particular move appears to be happening in a consistent fashion, so that they can jump aboard any such bandwagon. These markets can be traded and timed with a reasonable degree of accuracy. Gold is just a trade too.

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