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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Eva who wrote (24184)	11/17/2003 3:07:35 PM
From: nspolar	Read Replies (3) \| Respond to of 39344

Eva, you probably know ... I'm not pumping Drooy by any means. The chart speaks for itself. It is not of major significance to me, it is just I feel worth a play for 'me'. I have plenty of other issues. I think Frank showed a good chart the other day, of the Rand/Gold relationship, and it appeared the correction between the two about over. As for gold being a total dollar play, I disagree with van Eden. This is complete nonsense imo. Gold is strengthening against many currencies. This is what this index is supposed to illustrate, and it may also be nearing a breakout, which will unleash gold from its shackles. In fact looking at the longer term charts of this index, it may be in the process of doing just that. sharelynx.net I've appended two very good articles by Roffee, who has a pretty good record, and not too long ago was buying Drooy by the bucketful, as he so aptly stated. Roffee is an engineer type, who noted for their intelligence, all the while being so humble (not)! "But also note that gold is outperforming EVERY major currency." gold-eagle.com gold-eagle.com I believe in these kinds of analyses, until I don't believe. In regard to investment style I guess I am more like SKI's partner, as opposed to SKI, and who cut himself short this HUI run, severely so: "The above was just some ideas for those readers that may have difficulty handling the idea of "missed opportunities" and to demonstrate trading styles/personalities. My colleague's 19-year investment/trading history is filled with about 13 trades a year (all from the long buy side). He makes money on well over 90% of his buys to sells. He would have sold today for sure and taken the profit. Records indicate that he usually runs off 10-12 consecutive winning trades. HE HAS 11 CONSECUTIVE WINNERS AS OF YESTERDAY. Some of the trades are profitable because he has a tendency to hold his position even when he is sitting at a loss, and then prices recover so that he sells at a profit. Then he'll get his one losing trade, losing a large percentage of his gains by "refusing to lose," by holding too long as the price moves down and the price stays down. This style is directly contradictory to the standard advice of "let profits ride while cutting losses." Nonetheless, I personally know that he has made money every one of those years, primarily while buying during one the longest bear markets in history (as USERX fell from 101.30 to 2.31). My own style is that I am perhaps too quick at cutting losses, so that I am personally prone to buying and selling at all types of bottoms, but I am not likely to buy at tops. I therefore avoid losses, but tend to miss gains. That is me! After 18 years of experience and as a clinical psychologist, I still have not been able to change my style (fortunately or unfortunately?). Trite as it is, "Know thyself." So I need to cut my big losses maybe? Cut Drooy??? But then I would screw up the other side of my personality, which has been highly beneficial this run. So I'm trying to figure out how to do one without affecting the other. Cold in Fbanks.