Gold Off and Running
Gold at 527.40 which is up 10.40 as of now. This is to be expected since the dollar is resuming its fall in face of the end of the corporate repatriation of foreign dollars to take advantage of lower tax rate and the size of our debt.
DROOY has been as high as 1.58 today. I had to put in a 5% trailing stop at that price for a small portion of my shares. The quick run up could be followed by a correction at which time, I plan to buy more if the stop is hit. Possibly, I will have opportunity to increase my holdings.
Almost all of the mining stocks are acting as they should when gold moves upward. The DJI is negative by $13-$16. The loss for 2005 was not quite $1. Of course, that was very bad news. Gold was up nicely, though.
This will be brief as I wanted to get the news out while it is hot.
A Blessed New Year to one and all.
Doug
DROOY has been as high as 1.58 today. I had to put in a 5% trailing stop at that price for a small portion of my shares. The quick run up could be followed by a correction at which time, I plan to buy more if the stop is hit. Possibly, I will have opportunity to increase my holdings.
Almost all of the mining stocks are acting as they should when gold moves upward. The DJI is negative by $13-$16. The loss for 2005 was not quite $1. Of course, that was very bad news. Gold was up nicely, though.
This will be brief as I wanted to get the news out while it is hot.
A Blessed New Year to one and all.
Doug
posted by Doug @ 9:54 AM
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