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

To: Wade who wrote (43398)	5/6/2013 11:43:02 AM
From: Jacob Snyder	Read Replies (2) \| Respond to of 48092

<GDXJ is so over sold> I may add GDXJ to my new NEM position......but not yet. Going back to mid-2003, NEM has found support in the low 30s. The only exception, is the brief panic plunge at end-2008. Their current profits and dividend should provide support. Should. As I understand it, the juniors trade mainly on the hope of future production and profits, not the reality of current production. They also are more dependent on access to capital than the majors. And they don't pay dividends. So, I don't see any support line, at any valuation, for these stocks. I have seen guesses of future profits change so radically on so many stocks, I am sceptical of all such guesses. For now, I'll stay on the sidelines with GDXJ, and wait until they can get back above their 50-day moving average. I'd also like to see the official announcement of QE4. Yes, the price might be higher then.