Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: gold$10k	8/26/2011 5:21:17 PM
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I am trying to stay agnostic on the issue of whether GDX/HUI/XAU will breakout in the next week or two. It could be said that all exuberant arguments in favor of the breakout are contrarian indicators. I don't know and I don't care. I cannot tell you how many times I have had this same discussion in the past 12 years. IMO GDX 64.19 is the line in the sand, but it is also one of Da Boyz' standard games to eat your lunch by allowing a nominal breakout with all the attendant rah-rah/yahoo before bringing the hammer down. stockcharts.com Here is my plan if there is a breakout... 1. right at the time of the breakout... try to do nothing, although I will probably be overwhelmed by the desire to buy the cheapest, quality juniors that are still available near their recent lows. 2. buy a pullback to the breakout point a few weeks to a few months later. I may pay a few percent higher, but I will be compensated by the much greater likelihood that the breakout is for real. Also, even if September is a seasonally typical bullish month, October is typically a give back month.

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