sept 11 when the current mad gold rush cools down, retail idiots are piling into gold at the wrong time again when theyshould be selling at current levels
I don't think that the sept 11, is really a huge factor in the increase in POG. I would admit that it is part of the story, but my sense is the POG and the gold shares are following a normal market supply and demand cycle.. and that we have had a retrenchment, and consolidation phase, and that we are now climbing again.. there might be a .35-.50 war or terrorist premium, but I dont think that the main driver. I wouldn't sell now... if anything I would be buying now that the stock is moving up.
I sold part of my MYNG position to buy somemore drooy on today's dip.
I'm looking for HUI to bust 140 and may trade after that. All my gold charts are looking beautiful - hard to decide where to add & which ones - but drooy is a fav of mine (luv them dividends!).
BTW - thankx dana for all of your informative posts!
Your throwing the dice.....you pay 20% in taxes.....yes we have gaps below....yes we are overbought here....but you better keep a close eye....this "baby bull" imo is/will be very un-accommodating.....he doesn't want company....just a head fake here and there and your back in at higher prices if at all. Don't try to second guess this puppy...it's a "Primary Bull" and the BIG $$$$$ is made on the long hold! Good luck
Couldn't have said it better.this bull market in gold will last alot longer than you think.the indexes' dow s&p nas will not take off until all uncertanty is out of the picture.the u.s. Needs to build defense inventories to make sure no other country like china tries to screw us.gold will runup rundown but the long picture to me is up.