MF, MML like a number of gold stocks that seemed to bottom out around nov has doubled in price in just a few months. As your undoubtedly aware the POG dropped below $1150 usd back in nov and then rose steeply all the way up to and slightly beyond $1300 usd during the 3rd week of jan, only to revisit $1171 usd just 2 wks ago.
Those stocks as I mentioned above, are still holding up quiet well, my thoughts at this time are the market really wasn't prepared to send those "good gold stocks" all the way back to the abyss for a few reasons.
One, they were all previously over sold, based on the POG, gold then found a ledge and then had a substantial bounce and as a consequence the "good gold stocks" (MML being one of them) rose as expected and some of the not so flash did as well.
The fact that they didn't get smashed even thou the POG got within 20 odd bucks of its 12mth low, that was interesting I thought. That told me, either these stocks were re rated and some were like NST, or the market also took the view that POG may start to climb again, which it has but not at it's previous rate.
I don't know where the POG is going at this time, I don't think anyone knows for sure, if it gets smashed, goes below say $1100 usd then I would expect many of those gold stocks might re visit previous lows.
Many 'NEW' investors that bought in during recent lows say 3-4mths ago, LOOOVE gold, make no mistake, they have cleaned up and more than doubled their money in a very short space of time, however most gold stock investors, event the aggressive ones, are still under water.
6 bucks for MML seems along way off, however given the way it jumped at $1300 usd an oz, I reckon get 1400 usd oz and profits would be huge.
Bottom line POG needs to stop falling and start rising on a consistent basis to reward longer term holders.
Anything over 1300 usd and things will get interesting.
In the meantime I think there will be some great 'trading' opportunities in gold, for the savvy but keep your finger on the button.
![]()
- Forums
- Commodities
- GOLD
- the performance of gold stocks
the performance of gold stocks, page-52
-
-
- There are more pages in this discussion • 14 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GOLD (COMEX) to my watchlist
The Watchlist
SBW
SHEKEL BRAINWEIGH LTD
Dani Nadri, Country Manager Australia
Dani Nadri
Country Manager Australia
SPONSORED BY The Market Online