Maybe I Should Have Been Trading
Gold has hit 550 today. Now at 550.70.
Using hindsight one can always make the correct decision. I have traded in and out of mining stocks a great number of times. However, I have also been one of those who traded almost all and then observed the price continuing up. In a sense, I felt locked out at those times. In the last few weeks, I decided not to trade in and out again for the time being. This, today, does not seem to have been the best decision.
Gold was due for a correction! It had gone up to rapidly. Now the correction is in. From a high of 572.60 at 1:15 NY Time this morning, it has dropped to as low as $550.10. It is now back up slightly to 550.30 at 2:19 p.m. NY Time. However, it continues to bounce about the 550 level and will likely penetrate that some today.
I had thought that 550 would hold, but?????????
I hope those of you who were waiting to get on board are getting ready to jump in. Remember BUYER BEWARE!
Best, Doug
Using hindsight one can always make the correct decision. I have traded in and out of mining stocks a great number of times. However, I have also been one of those who traded almost all and then observed the price continuing up. In a sense, I felt locked out at those times. In the last few weeks, I decided not to trade in and out again for the time being. This, today, does not seem to have been the best decision.
Gold was due for a correction! It had gone up to rapidly. Now the correction is in. From a high of 572.60 at 1:15 NY Time this morning, it has dropped to as low as $550.10. It is now back up slightly to 550.30 at 2:19 p.m. NY Time. However, it continues to bounce about the 550 level and will likely penetrate that some today.
I had thought that 550 would hold, but?????????
I hope those of you who were waiting to get on board are getting ready to jump in. Remember BUYER BEWARE!
Best, Doug
posted by Doug @ 1:15 PM
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