Because BOJ increased their QE, gold last Thursday (4/4) bottomed (so far) at $1539-a 10 month low. For that reason, I bought a couple gold stocks, ABX and GG. Previously, I was expecting a $ rally to take gold down to $1250-$1300. But the BOJ's action and recent M2 growth of $60 billion in the last 4 weeks vs being flat the prior 12 weeks-the more money sloshing around the world the higher probability some of it will find its way into gold and future inflation-which is the announced objective of the BOJ.
On a mechanical basis, if BOJ is going to buy $80 billion/month of Japanese bonds, what are the sellers going to buy with the money they get from the BOJ? At the margin, since higher inflation is one of the BOJ's goals, then inflation hedges (gold) would be one idea. As of 4/8, gold did hit a 33 year high in terms of Yen-I expect that to continue. Also, in a backdoor sort of way, the BOJ has declared war on the ECB by weakening the Yen vs the Euro. An ECB response of more easing, including "active" QE could be forthcoming later in the year-also bullish for gold.
So, other than staying with NG positions, I'm a buyer of gold stocks on weakness, perhaps a retest of $1540-$1550.
Sorry, don't follow any biotech or pharma companies. W/R to KTCC, I have taken profits on all my inventory, so have none now. Don't expect much for earnings for the March Q and June Q's guidance. But, KTCC is on my list to buy on weakness as the fundamentals an possible buyout by CLS or another larger EMS company make buying around $10 a very good reward/risk tradeoff.