Exited the three weakest in my gold stock portfolio today, still have three stocks left. If there is no improvement by the close Monday, I'll have to jettison the rest. And try again next time. I saw what the dollar and euro were doing, but decided to let the gold stocks speak for themselves, and lo and behold the said "you're wrong". Kudos to those that got already.
Exited half my gold basket today
Started by
teki
, Apr 08 2004 03:19 PM
6 replies to this topic
#2
skott
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Posted 08 April 2004 - 03:40 PM
teki, my friend, are you abandoning me?? actually I did about the same thing, closed 1/3 for a tiny loss and holding the remaining 2/3 with even smaller loss. things may turn Monday. I think the golds have held up pretty well given the weak market. seems like alot of goldstock bears out there...I too will decide Monday. cheers
scott
#3
teki
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Posted 08 April 2004 - 03:45 PM
Believe me, I didn't want to, but I know I can always get back in, but probably after missing a huge gap up. And yes, many stocks holding up better than the doomsayers are doom saying. My remaining holdings have a decent profit so far, so I just jettisonned the losers. Monday should be interesting.
#4
dollarbear
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Posted 09 April 2004 - 02:25 PM
so many folks frustrated, throwing in the towel, and bearish on the euro and gold/gold stocks here I'm thinking a contrarian viewpoint could be very profitable.... NO ONE is expecting gold to bust through 430... I"m thinking its a lot more likely than not....
#5
teki
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Posted 09 April 2004 - 02:31 PM
dollarbear, do you have any favorites in the gold stock world? I have "slots" open now to add positions IF things turn back up. Part of this weekend's job is to identify potential candidates and buy stops.
#6
dollarbear
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Posted 09 April 2004 - 03:30 PM
well...I'm leaning toward PMU/MNG... but if i'm wrong and gold is gonna breakdown, those two will be roach motels...
I do expect the mining stocks to underperform the metal substantially due to large increases in production costs reducing the net margins for mining.... and there may be one more round of dumping ... but I'm still optimistic that gold breaks to new highs and drags the miners up with it as analysts price in 450 gold and possibly 500 gold
all depends on your risk tolerance which miners you run with... i don t like the SA miners though...
#7
skott
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Posted 13 April 2004 - 07:25 AM
I exited the remainder of my gold stocks for a 3% loss. It looks like it will get ugly to me. very ugly.
scott
