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Thread: Gold

  1. #121
    alevin Guest
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    Default Re: Gold

    Quote Originally Posted by Bullitt View Post
    Looked over some juniors over the weekend, but I'm very much on the fence about getting involved in any stocks that have been bid up from pennies to 4 or 5 bucks. Some do have some promising base patterns but most have run away. My guess is, the ones that are still basing are probably more of a company on paper than real life. Juniors are basically lotto tickets, you can't just go all in on one. Still observing here because I expect a shakeout in gold any day now.

    By the way, a Junior Miner ETF is in the works by Van Eck Global. No release date has been set yet.
    I've been mulling toe in water on a couple jrs. myself, haven't settled on any particular ones but know which ones are being talked about. The ETF idea might be something I'd rather play with a little, actually. I am sitting on some decent cash from the runup in one of oil and gas plays I sold lately. Altho I got a weird vibe from a chatboard comment elsewhere yesterday talking about taxes owed on phantom profits in Limited Partnerships (LP's), which my sold stock would be one of those.

    Wondering if I'm going to get hit with a taxes owed bill? Nah, it was in my Roth account (it was supposed to be a dividend producer but changed their rules after I bought it-no dividends). Bingo! I'd been beating myself up for not buying it in the taxable account where I wanted some cap. gains rather than interest earned tax issues, now I have a good reason to buy it again in the Roth account sometime or other again when the fundamentals look good again. Whew!

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  3. #122

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  5. #123
    alevin Guest
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    thanks Show! that's a good site. I've been thinking of buying some PM but the Australian mint wants a minimum of $10K to buy gold from them (storage included), which I don't have laying around. The Apmex site says can buy some of their silver coinage for IRA accounts, not just for personal "cash" on hand, and its in affordable quantities. Now THAT I like!

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  7. #124

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    Default Re: Gold

    Even within the gold headlines and bullishness, I'd be careful with this ETF guys. It's backed by actual gold, so I wonder how that's going to affect liquidity when they need to unload those gold bars on the next downturn.

    http://www.businesswire.com/portal/s...94&newsLang=en
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

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  9. #125

    Join Date
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    906

    Default Re: Gold

    For anyone trading GDX:

    The Ebbchart's return trading GDX in 2009 is +115.2%. At the same time the GDX is up 42%.
    -- Tom | My Trades

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  11. #126

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    Default Re: Gold

    Most of my GDX shares will convert to LT Cap Gains in the next few weeks.
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog


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  13. #127

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    Default Re: Gold

    Cool! Hopefully, gold won't tank in the interim.

    Are you considering selling once you have the LT locked in? I'm a little worried about a rally in the dollar so I may sell soon.
    -- Tom | My Trades

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  15. #128

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    Default Re: Gold

    I do think the dollar will rally a little bit here just so that the drop isn't so obvious so there will probably be some Fed jawboning here soon.

    The HUI is facing a little bit of resistance, but I'm thinking it's going to at least 500. As long as the Fed keeps rates low, it's hard to make a case against gold, which I'm very bullish and have been for a few months now. I know I've been gold bearish in the past, but we're in uncharted waters here- not only in real life, but on the charts. The only sellers of gold now are profit takers, not folks looking to break even.

    Also, I won't be surprised when China or Russia comes out some time in the next month or two and says, "We've been diversifying further into hard assets as a dollar hedge."

    I'll post when I ring the bell. Since this is in my taxable, I'd really like to make it 100% LT Cap Gains before bailing but sometimes, you just can't help it.
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

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  17. #129

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    Default Re: Gold

    HUI is under pressure but Gold remains above 1K. I may add to my gold related holdings once the dollar rally picks up steam.

    Meanwhile, here's what the smart money is doing with Gold.

    Finance Minister Alexei Kudrin said Russia is considering selling gold on world markets to cash in on high prices as the government faces its first budget deficit in a decade. Kudrin's remarks follow a report last week that the Gokhran precious metals depository was planning to sell up to 50 metric tons, or 1.6 million ounces, of gold in London by the end of the year. With gold prices reaching record highs of over $1,000 per ounce, the sale could bring Russia some $1.7 billion. The finance minister gave no details Wednesday in remarks to journalists carried by state news agencies.
    http://www.google.com/hostednews/ap/...wLPiwD9BK83Q82
    "Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog

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  19. #130

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    Default Re: Gold

    Quote Originally Posted by Bullitt View Post
    HUI is under pressure but Gold remains above 1K. I may add to my gold related holdings once the dollar rally picks up steam.

    Meanwhile, here's what the smart money is doing with Gold.

    http://www.google.com/hostednews/ap/...wLPiwD9BK83Q82
    Bu the end of the year? I wonder if this flood the market and bring the price down.
    Candlestick crack addict...

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