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Gold Resource Corp Message Board

  • hcallahann44 hcallahann44 Aug 4, 2011 4:55 PM Flag

    Keep - your thoughts?

    What do you make of this market correction and the impact it will have on Gold stocks....Are we looking at 2008 all over again? Even thought the price of Gold is at record levels and the price of oil looks to be falling...gold stocks are getting taken to the wood shed! Are they being liquidated to cover other losses? Your thoughts appreciated....

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    • Etrade has global trading which allows you to exchange USD to CAD and then you can buy canadian stocks for 19.99 per trade. But there is nothing wrong with the pink sheets, I use that too. Somebody hit the panic today and sold TARSF and WLRMF at market today and took a 50% loss. Just look at the current bid and ask and you will see they are not off by 50%, maybe 5% each.

    • Thx Carn....I have TD Ameritrade too...and its very hard to trade the Canadian juniors there...your orders can sit for weeks....trying to find a broker that will let me buy the Canadian exchanges...though I think there may be some tax consequences associated with buying through the Canadian exchanges. I am new to trading Canadian listings and better bone up some more about pink sheet trading before increasing my investments...

    • No matter what the "gurus" say, panic selling doesnt discriminate. If the general markets tank, the gold related stocks will go down the tubes with it. The Venture Exchange was down the most today out of all the major indexes.

      This could get a lot uglier than 2008. I believe the DOW:GOLD ratio is eventually going to 1:1, something like 4000:4000 or 5000:5000. I think we might bounce for a bit but I expect massive liquidation in the fall, especially late October.

      You can hedge with some PUTS or Shorts. I have some on major indexes and financial stocks. Just in case there is a black swan event and we wake up one day with the DOW down 1000+ points.

 
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