Not one post today !!!!!!!!
Mamma mia!!!!!
It's that bad.
Even our team leader
@atomic79 has disappeared.
Perhaps frustrated like everyone else.
Aahh...I just thought let you guys know that I'm well alive and kicking.
It's bad, really don't know what is going on with gold stocks. Gold is holding strong,
yet the miners are sold down on daily basis. One day up......five days down.
My portfolio went down 7 days in the last 8 trading days, all the while gold moved from 1265-1290.
This time last year......the stock price was more than double and there would be hundreds of post everyday. The vibe, energy, enthusiasm.....everything was charming........but all that euphoria(if one can call it euphoria) didn't end well. We all know what followed.......a terrible hangover after the party.
Now the stock price is cut into half......people have lost interest......probably very few are holding now.
How will this end remains to be seen.....so far not good.
One of my friend who was actively buying and selling last year....making some dough. He would buy anything. I asked him why did you buy....do you know anything about the company. He would say... there is no need to know that......just buy gold stocks in the morning....it will go up in the afternoon or next day.
. Later he took a big loss and got out of the market Apr-May. Now the same friend thinking about my well being tells me, its all a scam. He has vowed to never touch gold stocks and in fact is completely out of the market. He also reminds me very often to get out of gold stocks. Maybe he is right.
But I can't give away my position. In fact to his contrary I have accumulated the highest position I ever had and all in gold stocks.
My belief is the downside correction has run its course. It has done what it needed to do....... that is to throw out all the bull speculators, momentum traders, chart guys......they are out of this market. Only the die hard gold bulls remain.....that does not make them right until they are proven right.
Anyway, BDR is still the second greatest dog I hold, the number one position is reserved for TRY.
I still have some humour left. The way I see it is all a learning curve. Hopefully with this painful experience I will be smart enough to leave the party a little early.
