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

To: rubbersoul who wrote (42609)	4/15/2013 10:32:06 AM
From: Mike M2	Respond to of 48092

most hedge funds have lock up periods so you cannot get out on demand. I am not a pro but even i expected a bloodbath today so i suspect the smart managers raised some cash friday. I just went long NUGT- pure speculation but I feel the downside is limited with so much damage already and I have little exposure at this point. for those who have positions causing you pain I would say hang tough but don't add. no point in trying to pick a bottom. my guess is short term bounce late today or tomorrow but I do expect a move to lower lows. the fundamental case for gold remains but I will wait for a clear uptrend before committing in a big way. The western world central banks have a vested interest in lower gold prices.