Gold Off a Bit This Morning
Once again the market has given us a break. Gold is off to 524.60 as I write. If you feel that gold should be in your portfolio, it seems that you have another opportunity to get in on the bull market in gold or to increase your holdings.
Looking toward the future, gold will continue to rise. However, it will be two or three steps up and one or two back down. That is the way markets go. It is doubtful that we will see gold under 500 in the foreseeable future. Is this certain? NO, but I believe the price of gold will stay above 500. Of course, I have been wrong in the past and will not be perfect in the future either.
My strategy is changing. For the time being and likely well into the future, I have decided not to trade in and out of stocks, such as, DROOY. For now, accumulation will be the name of the game. In the long run trading has not been as successful as desired. Trading is a good technique when any stock is trading within a narrow price range. However, it is not for a bull market without serious corrections along the way. As gold has moved up, it has been difficult to increase holdings using the funds from prior sales. Thus, this change is necessary.
There are mutual funds for mining, natural resource, and energy stocks which may appeal to some who do not want to invest in individual stocks. Some of my grandchildren are into mining and natural resource stocks of U. S. Global Investors (www.usfunds.com). There are many such funds, so it is wise to shop around and investigate several funds before making a decision. This is a viable alternative for the more conservative investor.
Looking toward the future, gold will continue to rise. However, it will be two or three steps up and one or two back down. That is the way markets go. It is doubtful that we will see gold under 500 in the foreseeable future. Is this certain? NO, but I believe the price of gold will stay above 500. Of course, I have been wrong in the past and will not be perfect in the future either.
My strategy is changing. For the time being and likely well into the future, I have decided not to trade in and out of stocks, such as, DROOY. For now, accumulation will be the name of the game. In the long run trading has not been as successful as desired. Trading is a good technique when any stock is trading within a narrow price range. However, it is not for a bull market without serious corrections along the way. As gold has moved up, it has been difficult to increase holdings using the funds from prior sales. Thus, this change is necessary.
There are mutual funds for mining, natural resource, and energy stocks which may appeal to some who do not want to invest in individual stocks. Some of my grandchildren are into mining and natural resource stocks of U. S. Global Investors (www.usfunds.com). There are many such funds, so it is wise to shop around and investigate several funds before making a decision. This is a viable alternative for the more conservative investor.
posted by Doug @ 9:10 AM
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