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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To: Jacob Snyder who wrote (43198)	4/30/2013 11:59:30 AM
From: Jacob Snyder	6 Recommendations Read Replies (4) of 48092

bot NEM @ $31.47; my first purchase of a gold miner ever; it will be a LT holding. This is a 1/4 position; I'll continue buying. My usual method is to take a modest initial position, then buy the dips, and incrementally sell the rallies, till I have my full LT position. 4.4% div yield = $1.40/$31.47 Yes, I know gold has performed better than the miners since the 2008 lows. However, if I hold gold I pay to store it; if I hold NEM, I get paid a nice dividend while I wait for the stock to recover. I have no idea where gold and NEM goes in the next few months, but I believe gold is in a secular bull market, while the stock market in general continues in a secular bear market that began in 2000. Stock markets are hitting highs, because everyone is convinced the Fed won't let stocks go down. Everyone is ignoring the reason why the Fed (and every other central bank on earth) is doing serial QE: anemic economic growth, stagnant real wages, persistently high unemployment, lack of credit to businesses, and an unwillingness to borrow among those who do have credit (no matter how low interest rates go). Serial QE = gold bull market. Everything else is noise. NEM now down to a price last seen in December 2008, when gold was at $800. That's a disconnect.

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