@Forged I remember it all too well, and am still a holder.....but also got caught up in the panic selling. I didn't know whether to buy more, or sell, lest all paper profits dissipate to zero ( who knows where the bottom is? It's happened to me here - HC "angels", now fallen from grace. More than once). Best would have been to take windfall profits (at around 7), and then buy back lower. Second best, do nothing (v. hard).
I'm not the best trader in the world. I need better "objective setting" from the outset, exit strategies, etc...
I just don't have a lot of confidence in RMS, and unless it starts moving again, decisively into the 40's, I'd rather have the cash for something that is actually moving. Maybe even another sector. I'm 100% in gold stocks.
I did bail on MML late last week. This is where I am currently:
View attachment 175067
Note: I used to have a lot more EVN (20,000 shares at one time, blew out to 40% of my port- my first gold in Oct 2014 at 57c, accumulating, but progressively booked profits. I can't see into the future. Was I to know it'd hit 2.15 today? No.
Separately and unrelated, do folks remember when gold went above USD 1,
200 not all that long ago? And in AUD it was about 1,750, within spitting distance of the all time hi?
Look at it now (image below). The AUD is not helping us, but if I had my choice, I'd rather the USDPOG rise, than the AUD fall. Clearly, both together are the dream combination.
This is a constant paradox that I've mentioned.....what's better USD to rise or fall? If it falls, plunges, it drives the POG up (all USD denominated commodities) - as we saw with the reaction to BOJ monetary decision last week which sent USD plunging and gold soaring), and - I suggest - overwhelms the currency action.
In any case, it's much easier for us to break the all time hi, at 75c, even 80c, than it was in say, 2011, AUD was at parity. USDPOG doesn't need to rise that much further to reach an all time high in AUD, and it will be headline news, and people will be lining up in the streets of CBD to sell their gold jewellery, just as they did in 1980, at the peak of the last gold / silver mania (See "Hunt Bros of Texas")
