sorry to announce the end of golds upward movement, this morning I'm
buying a nibble on HL and if past history is an indicator, gold should
now move down. get burnt in metals every damn time. this time could be
different, hehehehehe
mac wrote:
> sorry to announce the end of golds upward movement, this morning I'm
> buying a nibble on HL and if past history is an indicator, gold should
> now move down. get burnt in metals every damn time. this time could be
> different, hehehehehe
Howdy,
Well, I think the rumor of gold's demise is greatly exaggerated. ;-)
Seriously, I'm not sure we've seen the end of this leg. However, I'll
wait and see if it actually breaks down or just threatens it. Remember,
Capt. Price is the one in charge. However Hecla is more of a silver
play and silver is where the greatest potential profit lies. That's why
if you play this sector, you want to overweight silver - either with
precious metals (vs. gold) funds and individual miners that do silver.
My basis for this is that historically, the gold/silver ratio has been
15-20/1 (by historically, I'm talking about ALL of known history).
Right now it's 63/1. During the bull run in the late 70's and into 1980
gold topped out ~$850 while silver topped ~$50. Note that this is 17/1.
Right now gold is ~462 and silver is ~7.30.
BTW, copper is right around its all time high at 170 or so. My two
copper plays are FCX and BHP.
Otherwise, I'm riding CDE and PAAS for silver, GG and GFI for gold, PAL
for platinum and a bit with UNWPX for blanket coverage. Note that I
also have core positions w/PRPFX and am about 4-5 units long the natural
resources in general.
But HL is a good silver play.
best,
rono