I got in at 60 and 66c thinking in a year I'd be laughing but its only been 6 weeks.
As you say Mike I feel for those that sold out and the market is always a learning curve no matter how long someone has been investing/speculating for. One thing that does get on my nerves though is all the unbalanced media commentary - at USD1200 there are plenty of people given airtime to say its going to 500/800/1000 (we even have Skol on hotcopper as our forum version of that) but few that add balance and medium term perspective that on a risk-return basis it was probably a good punt to buy goldies at those depressed levels.
Now, it probably still is good buying here but given most goldies will be up 5-10% on monday and 80-100% of their lows the margin for safety now is reduced. I still like gold here but US1450-1500 will be extraordinarily difficult to break above (although weak A$ has added a good boost to local producers).
Patience is key on these rallies - SLR may be going for $1.80-$2.00 zone if gold can add another $50-100 an ounce.
SLR Price at posting:
$1.01 Sentiment: LT Buy Disclosure: Held
