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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: sammy™ -_- who wrote (9299)	1/29/2006 9:08:26 AM
From: Patrick Slevin	Respond to of 12411

One of my friends who is an excellent trader has owned NEM for many years. He thinks Gold is going to 1500 plus, yet even he sold off a third of his last week on the run-up. But I think that's an $80 plus stock. I don't happen to own it, primarily because I have a position in Barrick. I would not be surprised if my friend buys it back, if he hasn't already. I think he sold because he's a smart short term trader, thought it was a little overextended, and for all I know it represented too large a position relative to his total net worth. If I did not own ABX I would buy NEM here. If for no other reason than I would want to establish a position that I could add to depending on future stock patterns. I'm not short term trading any of these positions, so if you are asking with the idea of a scalp trade then I can't really give you an answer. I'm not a short term stock trader.