Disco Stu mentioned that I bought into PVM.My interpretation of...

Disco Stu mentioned that I bought into PVM.

My interpretation of what is happening there is that there is a large, or several large, holder selling out - could be funds that have to sell because investors want their money out of goldies. This process could take a fair while and I have no idea how low the price can go or if the timing of my entry has been good.

I bought into PVM as a longer term investment. PVM seems a bit illiquid at times and may not be a good share for traders - PRU, RSG, SLR, RRL, BDR, MML are generally a lot easier to exit at a reasonable price. EVR, which I also hold, is in a similar situation to PVM (large seller/s depressing the share price and the share can be illiquid).

As for the POG - it really is not doing anything to excite gold holders. If the POG fell another $80-100 there would be a lot more pain for the goldies and the shorters would be back in full force.

I still think there will be very good opportunities in the second half of 2013 to get into goldies, and there is no hurry for longer term investors. However there are trading opportunities along the way.

loki