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Fidelity Select Gold Portfolio Message Board

  • eechicken eechicken Jun 19, 2013 3:42 PM Flag

    Buying

    Buying some shares with today's closing price. Last time I bought in was back in the 2008-2009 timeframe. I sold too early back then and did not make as much money as I should have. The shares seem to be oversold and hated like all gold related stocks lately. Over the medium/longer term, I expect sentiment to change eventually and uptick in share price to reflect that sentiment change.

    Thanks

    Sentiment: Buy

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    • Buying is a terrible idea for the reason you indicate, everyone hates gold. If gold follows it's historical path it'll back off to $600 or so. That's when it's a buy imho. World is in a retracement, in particular the East. Bad news for all commodities for the forseeable future.

      • 1 Reply to islb3
      • Buy the metal itself and hang onto it. Forget about stocks and ETFs. They are guaranteed losers, long or short term. Better to spend 10K on bullion if you have that kind of money rather than paper that abstractly represents it. Problem is that these mining stocks never ever really matched or tracked the spot price of the metal itself. That's why a lot of people (myself included) got into it in the first place. We just logically assumed that if the spot price of gold went up, then eventually (maybe not instantly but we were willing to wait) would go up along with the metal spot price. When I finally was no longer in denial about it I admitted to myself that I'd made a big miscalculation and got rid of all of my gold miner stuff. This was actually back before the spot prices started taking a dive. One of the best moves I ever made - saved me thousands of dollars. And no, I won't be back. Gold mines have a history of not taking care of their investors, but paying their top management big money while their stock drops in value. If I invest in gold in the future (I may if the spot drops some more so its more affordable) I will buy boullion coins and small bars. No stocks or ETFs.

        Sentiment: Strong Sell

 
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