In February 2004, almost 2 years ago, you were getting nervous about the
gold correction. I suggested you ride thru it and hold your gold assets.
If you took my advice, you should be pleased with the results.
--
Steven D. Litvintchouk
Email:
Remove the NOSPAM before replying to me.
"Steven L." <> wrote in message
news:muxCf.6682$
> In February 2004, almost 2 years ago, you were getting nervous about the
> gold correction. I suggested you ride thru it and hold your gold assets.
>
>
>
> If you took my advice, you should be pleased with the results.
Steven:
As you may or may not recall, I don't trade. I try to keep 18 funds roughly
equal by directing dividends and occasional rebalancing.
I can't put my hands on my 2004 statement but, according to my 2005 year-end
statement, I actually bought some shares (at well below the current price).
I think this was mostly putting back the April dividend.
Currently, despite a huge year-end dividend, I am very near having to sell
some Gold (and Emerging Markets) to bring my portfolio back into an
acceptable balance.
I certainly wish I had more funds like Select Gold. It has had a history of
buying some low and selling some high. If you believe Fidelity's accounting
of such things, over 70% of the money still in that fund is profit.
-herb
"Steven L." <> wrote in message
news:muxCf.6682$
> In February 2004, almost 2 years ago, you were getting nervous about the
> gold correction. I suggested you ride thru it and hold your gold assets.
>
>
>
> If you took my advice, you should be pleased with the results.
He's probably just pleased as punch. He was thrilled when FSDCX gained 15%
after it bottomed.
He did own it when it was something like $85. It's gone up enen more than
the 15% that got his shorts sticky, it's all the way up to $21.80 now.
Anyway, Herb won't sell his gold fund. It can go up or down, he'll just keep
it.
"Herb" <> wrote
> As you may or may not recall, I don't trade. I try to keep 18 funds
> roughly
> equal by directing dividends and occasional rebalancing.
See, I told you.
> I can't put my hands on my 2004 statement but, according to my 2005
> year-end
> statement, I actually bought some shares (at well below the current
> price).
Time for Herb to wash his shorts.
> Currently, despite a huge year-end dividend, I am very near having to sell
> some Gold (and Emerging Markets) to bring my portfolio back into an
> acceptable balance.
Dump the winners, a winning strategy. Buy more losers.
> t has had a history of
> buying some low and selling some high. If you believe Fidelity's
> accounting
> of such things, over 70% of the money still in that fund is profit.
>>>Yeah right. Just not yours.
Howdy all,
Well, I'm still long up to my eyebrows in the precious metals and
looking to raise some cash to buy more silver miners. By the end of
the year, I think gold will be north of $600 and silver north of $10
and perhaps even $12.
That said, there are some technicians that see gold in an overbought
position and have shorted it accordingly. Salil was short via the new
profund pm short fund. Last night on Kudlow, his guest Barry was short
with a small position, but still bullish and net long overall. He saw
a correcction of 6-8% back to around 520-525.
They both may be correct. And I hope they can make some money playing
these short swings. Long term, I'm still waaaayyy bullish on the pm's.
And I can't trade that actively, nor have it the skill or inclination.
I just ride out this mischief. And, even the techs over at gold-eagle
have been astounded by the persistance of this bull run as the pm's
have refused to obey normal TA signals and keep plunging ahead. Every
time gold pauses, it might drop back a few % only to turn around and
gain 10-15%. Right now gold is consolidating and the TA's are looking
at the overbougth situation and shorting betting on a correction before
setting off again.
Be careful folks. Gold may be consolidating right here, but silver,
copper and platinum are all setting new highs and XAU is too and this
means that not only the bullion prices of the other pm's, but also the
mining stocks are pointing north.
When this consolidation ends, this all points to a break out UP, not
down. And if it does correct, I'd see it back to 540 or so before
taking off again and running up to 580-600.
bwtfdik,
rono