fbx258 I recently bought some RSG shares for a bounce trade...

fbx258

I recently bought some RSG shares for a bounce trade expecting gold to rally a bit, but it looks like I am wrong. I still the expected the USD POG to head lower possibly below USD1000, and most likely this year or first half of 2016 so it was not going to be a long term hold for me at this stage.

I like RSG's longer term potential and am willing to hold for now what I own provided they deliver. I have plenty of cash to buy more goldie shares later on. I got a bounce from my RRL shares so I sold them late today to lock in profits and free up even more cash.

Beware getting in too early, but there are can be good opportunities for ST gains during major washouts. Today I assume it was speculators/investors selling out of goldies. The really big slaughter/opportunities occur when the fundies are forced to sell.

There could be a short term bounce coming in the goldies soonish, but I expect tomorrow morning will again be bad.

Spread your moolah around when you fill up the tank eventually.

Good luck.

loki