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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: Swami who wrote (56915)	9/10/2002 8:38:43 AM
From: the Chief	Respond to of 62348

Swami, I own Gold stocks, I trade all others. My strategy this time around is too not own a Longterm Acct, at all 9in anything but Golds. Therefore, at the end of the day, I will be out all stocks except Golds. If stocks go up, I will benefit from the swing. If Golds go down, it likely will be because stocks go up, drastically. So my exposure to "devestation" because I hold alot of gold is minimalized. If I occassionally take some profits in Gold and wait for a pullback to rebuy + play other stocks in the interim, I think I can still end up at the end of the Week. The thing I like about golds right now is the continuing press it is getting even in the US papers. Barrick and Placer are not being recommended because of their extensive hedge programs. What is interesting about those hedge programs is Barricks hedge is $400 per ounce. So assuming people are not recommending Barrick because of the hedge....the logic is some beleive that Gold has a reasonable chance at getting to at least $400 in some reasonable time period. Whats reasonable? No idea. But, not having an Diversified LT acct any longer, allows me to use Golds as an anchor for any shortterm catastrophic event during these unsettling times. So far my Gold accts have returned more than my DTs. I have taken profits twice so far, so days like this where Gold is down overnight in Asia/Europe allows me to buy down further my cost per share. I am just explaining why I am doing this. The key is I have no Diversified LT acct. So I am not bearish, or for that matter bullish. At this point, I am looking for a downward transition in the DOW/Nas because of fear. If fear can be overcome by Greed than I can take advantage of that too. Why am I doing this....because I believe Gold has done its final retest of the scary $300 mark. At tleast for the next 3 months. So assuming that my downside is likely still above my cost per share....thats a good LT assurance acct. In the meantime I can just play with Nasdaq/TSE happily. Just a note- For those looking for a "cheepee and fast" access to Nasdaq, tradefreedom has just come out with DirexII software. It allows you level II realtime plus access to all the ISDN's for trading Nasdaq for $50.00 per month. Fee structure is good and you know don't have to sign up for PCQUOTE at $600+ per month. It suits me for the moment because my "Island" doesn't have anything but dial up access to the internet. So PCQUOTE gets backed up, which meant I had to call in orders, now I have an alternative. Remember its just US markets...no Canadian Markets. Goto tradefreedom.com to get the explanation and a free download of the software. It allows you to use it with free realtime for 30 days on a "phantom acct" to trial it. If you like the way it works, then you just open an acct with them and activate the system.