Goldstocks act like all other stocks in steep market declines. They
go down.
Physical gold *should* go opposite dollar direction, as it is now
starting to do. $700/oz now breached and apparently holding for the
time being. :) Now, with gold ramping up in price, the goldies I
bought last week (SA, BVN, EGO) managed to hold strong through a 250
point decline. Actually, last week was tremendous for all these guys.
Mining companies are great, but will be subject to ever-increasing
production costs (energy). If for any reason gold does not continue
upward price trend, mining companies face many balance sheet issues,
though I expect gold will have a sharp upward trend throughout the
next year. Look for good cash flow - those are the companies that can
weather storms.
mrfinanc
...@mac.com wrote:
> I'd like to see some more news regarding that mine in Turkey, but I
> haven't found anything on the net. What's up with mining stocks/gold
> losing so much value during the market correction last week? I always
> thought it was supposed to be a safe hedge against the market and
> political uncertaint.y
> efitz...@gmail.com wrote:
> > smart buy on your part.
> > I bought after 35% plunge and adding little more each time it nears
> > 4.25/sh. All that translates into nice profit short term and huge
> > long term potential if/when mine reopens.
> > Actually, had I been around (out of town/ away from computer) last
> > week I would have sold all at 5.40 and rebought week later. ;)
> > This is a great stock to short term trade now while holding a core of
> > long term shares for mine reopening.
> > mrfinanc...@mac.com wrote:
> > > I'd like to thank the moron/s that sold below $3.50 today while the
> > > market was getting beat up. There's nothing like picking up a nice
> > > profit right away from panick selling.
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