Nice try. You are a shill for this subscriber based site, no one recommended it to you. Do you really believe we are all that stupid.
Buy GDX now and wait for XLE, or equivalent to tank. Energy will sell off big with the rest of the market when the usual suckers learn the economic recovery was/is a myth.
If you truly believed your last sentence you'd be buying back in with both hands. GDX rose today by 1.3% and energy sector ETF's were down maybe .3% and GGN still managed to fall by .22%. Gabelli is a shyster.
Why is GDX, an etf that pays next to nothing in dividend, doing better at this juncture than GGN. GGN's yield is now 12% with it's recent loss and still dropping. I don't get it. I can understand investors may initially punish this fund for cutting the dividend but it now sells at a good discount to NAV and should stabilize. I can only guess that the really smart money believes the economy is not recovering and therefore energy will Plummet along with the metals under a deflation expectation. Again though, why is GDX performing better, this has never been the case in the past.
Did you buy the tech bubble all way down also. The momentum for this stock is down and that's where it's going. Somebody already referenced all the div cuts in this stock to this point, when it's cut again the stock will fall below previous low in the $4 range. A tanking global economy will exacerbate the drop to who knows where. Good luck.
Averaging down doesn't even sound good. The world economy is tanking and oil will head south along with the general market. On top of that you'll have a dividend cut. The last time the market really sold off this stock was down to $4 while still paying a .07 monthly dividend.
If you're 65 years old I doubt that 40% of your money in a derivive using leveraged bond fund is a good idea. You'd be better off in prpfx, at least it has 25% in actual gold and silver bullion. I'm in Hstrx which is also a bond fund but without leverage and Hussman knows enough to at least hold PM shares. When this global paper derivitive nightmare crumbles I don't know that there will be many safe places to hide.
I have become concerned with what is held in my IRA since learning that purchasing certain assets can cause an IRA to become taxable.
I own GTU which is a Canadian gold trust with shares trading on the AMEX. I'm not sure that it's a legal IRA asset since i am invested
in metals that are not US coin, such as gold eagles. If you have any info on this I sure would appreciate your thoughts.
How is owning FNMA debt better than owning treasury debt.
If you believe there's a possiblity of U.S. sovereign default why not
just invest in high quality corporate debt or foreign govnt debt exclusively.
Anyone care to explain how FNMA is any safer than treasuries.?
What happens if this economic recovery built on sand takes another nose dive.
Will the price of oil tank again or will the declining dollar and middle eaast tension
sustain it along with the peak oil story. Whi knows. If this flimsy economic recovery
blows up, i believe oil will tank, at least temporarily.
Compared to EVEP, LINE and I'm sure many others this stock is a dog.
No poo-poo, just fact. Long term oil will be good but find a better vehicle.
In the short term, when this illusion of economic recovery evaporates, TSWHTF.