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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: zamboz who wrote (41422)	3/5/2013 10:14:04 AM
From: Rarebird	2 Recommendations Respond to of 48092

I buy fear and record gold mining discounts to the POG. Of course, I have no idea if this is the low or not. But I have a more modest bull market target of $2007 for the POG. That translates into at least a double for the Miners at current levels (and more likely 2.5 times current price.) At these levels, I see 20% average annual returns (including dividends) over the next 5 years for the Junior gold miners. These are compelling prices worth sitting on. <<Would it not make sense to see if the 1560 level holds for POG? >> If you are a short term momentum trader, you sit on the sideline and wait for price to confirm a bottom where a series of higher highs and higher lows ensues. Sorry, but I don't share the Armageedon thesis concerning the Miners or POG.