adwebster . . . question, page-6

hi Pug
I sold NCM last week but all this talk of "reverse head and shoulders" and Sinclair saying you are a mug if you are trading at such a bullish time - it's making me a bit nervous I guess about my gold share story! I never sold out of my juniors which seemed like too much hard work.
Cash is still King I reckon with the strengthening AUD - most of mine is ranged out at 8%+ (last September Westpac had 8% for 5yrs can you imagine) so the inflation story is not such an immediate issue for me: I don't think we will see real -ve interest rates here in Oz for a while anyhow.
I worry more if oil or resources are a better investment for that portion I play with. I think gold and oil will do about the same so maybe its 50:50 big cap gold and oil. Dunno about the BHP/RIO/FMG and the rest of the resources story - I reckon if you are with a big cap gold and copper miner like NCM or a WPL you will do jst as well. I have this idea that inflation will play out in tangible stuff and "tangible" companies but its still deflation in the bigger picture and an economic dump that is going to restart the bear market soon. The China restarts story seems a bit risky to me.
Been playing with some of the specs stock (BTA, CFU, DYE, CSL) but my timing is hopeless and in this financial climate I reckon I was going to get burnt so sold them last week too!
The PM story goes on - six months ago gold was around 750USD. Best not to think too much (or read too much on HC!)
- I don't think anyone is saying its time to get out of a core position or that the gold bull has broken down. Noticed for the first time in the AFR that some of our investment advisors now have gold in their mix (they're mixed up but thats another story)
So for me its still bigtime cash (still reckon our dollar has legs) and bigtime bullion (stay in the kitchen). Whats left is in gold juniors and in the next week or so I will be
back in bigcap gold or oil I expect but I'm not sure that all this trading is making much difference - need patience I think and too stop playing with it!

Disclosure
Lots of waffle - but that's what we do best here.