Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Group Therapy -- Ignore unavailable to you. Want to Upgrade?

To: E. Graphs who wrote (4547)	4/3/2004 10:27:09 PM
From: country boy	Read Replies (2) \| Respond to of 4564

Hey E: We got a good follow-through rally yest. in the overall market and the Naz taking lead again. First time in weeks we've had any volume and it looks like a good move to have gone long last week, in the short run anyway. My semi's looking good. I used the weakness in gold to get back some of my NEM, albeit a bit higher than I'd like (45.4). I think you're right in accumulating gold anywhere under 420 and perhaps a further rally in techs may take attention away from gold enough for me to get fully in. I want GSS back at just under 6...and more NEM at 43ish. We still haven't gotten our gold ETF, right? Been waiting nearly a year! I read somewhere Barclays was going to form an ETF ishare for gold as well, but when? Also was told that long term gains in a gold ETF would would be taxed at 28% vs cap. gain of 15% because gold bullion is considered a "collectible" (unlike a gold mutual fund.)Does that seem right? I recall the gold ETF's were going to be 10-20% bullion so that makes them 80%+ mining stocks which is more a mutual fund than bullion collection. Either way they can't get one trading soon enough to suit me. My plan right now is to stay long through this earnings season and lighten up towards May. I like your idea of converting to gold instead of cash, especially if we get an concurrent drop in gold price---$400 would seem like an undeserved gift! I don't have any physical gold and other than miners, it's hard for me to invest without that ETF, other than the gold fund I have (Gabelli), but I don't trade that one. It's hard for me to be as bearish as that fellow in the one link you posted. The economy seems to be doing everything right at the moment. For now, I'm following the market action which seemed to predict the good job report we got. I remember selling some last May at Naz 1500---what a mistake! Could we possibly get a repeat like that in this election year? I don't think so, but Naz 2200 will tell more of a story; I see lots of resistance there, but if we break it, up, up we could go. But I know I'm not alone in the observation of the tremendous success the terrorists had in Spain. If you were one of them, wouldn't you try a repeat this summer/fall in America. It almost has to happen and a strong position in gold ahead of time makes even more sense. $1000 gold? I got to see that to believe it---but you haven't been wrong yet and I'll remember you called it right here. thoughts? cb