You sound like i'm trying to knock the stock, shitforbrains.
just the opposite. Just look back at any stock that has been among the chief winners in a bull market (and it goes without saying that asa is in a gold bull market). You will see that they have at least doubled in a year (which asa has done) and have broken through an all time high with ultra heavy volume.
how do you think the stocks that have performed the best over the years made people wealthy? They kept making all time highs.
we all do this differently. I buy all time highs on breakouts from the previous all time high. Only stocks that show this kind of relative strength are the winners.
does it always work? Of course not. i have found from experience in the past, that a stop order placed below the breakout point is best. If it resumes its climb, i again buy in.
i buy most of the stock i want above the big breakout on heavy volume, and average less, and less as the stock goes up. (you do the math.)
by the same token, don't you wish you went short all time lows on a breakdown? You would have made a killing in this market.
my experience has been that stocks that everyone thinks are low enough to buy, go lower, and stocks that everyone thinks are too expensive go higher.
my all time high trades kept me in the market from 1997-1999, and has kept me out ever since.