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Kinross Gold Corporation Message Board

  • buckort buckort Jan 11, 2006 1:46 PM Flag

    Has anyone noticed NXG breaking out

    Just broke resistance. Also recommended DEZ when it broke out and has returned nicely to the investor since. Also recommended CCJ and was critized for the nice run it had and had little to go, well guess what, its up 5 points since then. Also recommended EGO, KGC, NEM, GG way back in Spring of last year. All one needs to do is check that time frame.
    Something people should also remember when they talk about the price of gold per ounce. Contrarian investors, which alot of the MM's are contributors to, don't buy when gold goes up. They sell into the strength. That is why its easier to follow the technicals of the stocks instead of the Macro views of suggesting gold will pullback to 490 or whatever.
    I've played the market in this way in recent years and its been good to me ever since.
    People played the 90's on the momentum theorey. Today, they play the contrarian game. NXG just broke resistance, play it as you will. However, the other stocks mentioned above were good to me when experiencing the same turning point. Just food for thought. Take care and happy trading....Buck.

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    • I have.

      damn nice move in less than a month.

      • 1 Reply to andevenabs
      • Agreed. check out posts 30560, 30557, 30575. These are just from 12/28 when they started to break out. Mentioned all. I've held alot of these positions and others not recently mentioned, but did mention back late last spring which have returned over 200% over the year for me. Sold off half the positions in each of the stocks and held onto the rest. Figure, why not take out the money I put into them and let the rest ride. If they go up great. If they go down, who cares, didn't lose anything.
        Funny thing is, I mentioned all the stocks as of recent and all the others held by Fidelity's Gold Select Fund way back in late spring (along with a few other plays). All have done great.
        I'm not one to play the macro game, who cares where gold is per ounce. Helps for future earnings, but as stated, today the MM's play the contrarian game. Should pay more attention to the ind. stock instead. I give credit to those that make the calls on the stocks and not where they see the macro picture in the future. If they want to give both, even better.
        To make my point, however, I'm glad someone else made a score on this stock. As for me, I'm holding the parts of the positions I didn't sell off to recoup the money spent on purchasing the stocks. I believe, as I have stated in the past, that gold and gold stocks will do pretty well in the next years to come. Hope all is well otherwise and good luck with the trades....Buck.

 
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