if that was a gold boom what a waste of time..

So were crashing, what's new GOLD stocks where hammered before this correction pricing this in, but now the sheep run for the hills & dump them further as GOLD collapses cant blame them $200+ drop in GOLD aint pretty, the so called GOLD BUBBLE has burst, not sure about others but to me that was the most boring bubble in my history of trading & the reward for riding it 6 figures down lol, uranium/iron ore/coal they where booms, only enjoyable part of the so called GOLD boom was when GOLD broke $1000 gold stocks had a good run nothing spectacular but fairly priced in the gold price, a few got ahead of themselves but most where at reasonable levels, then we ran to $1900 & majority of GOLD stocks where well off there highs that where made when GOLD broke $1000 & ran to $1300, for the last two years majority of gold stocks have been declining rapidly.

Probably the best thing to happen to the GOLD price is what's happening now fast & brutal crash, will wipe out the panic sellers & bring in fresh buying, as with every crash common sense has gone out the window & GOLD stocks imo look attractive though I thought they looked attractive last week to lol, may even be another 10-20% decline in stocks to go down before common sense kicks in or it may be a buying op this week time will tell, but were seeing what we see in every crash the quality of the company, cash position, resource etc.. being ignored & insto's/hedge funds doing the damage & panic sellers following, they run multi bil$ accounts & will dump at any price to move on quick, usually taking stocks to lows you wouldn't think of.

IF gold stocks where at there late 2010 early 2011 highs id be worried & selling or if I was holding a gold stock that had beaten the trend for the last two years & was at its highs id be selling, but majority of gold stocks are 50-80% off there highs already, imo this sell off has been well priced in & with the current collapse in GOLD the final price in is taking place, the quality ones will find there range & rebound not overnight but in time, will be a tougher market for gold stocks after this unless GOLD does a unthinkable rapid move to $2000 by years end which will start a real gold boom in stocks, best to focus on quality companies with attractive asset/cash/management rather then greenfield hopefuls atm, not what anyone wants to go through but it is what it is, patience required until it sorts itself out.. opportunity for those cashed up


always dyor..