General Market Still in Decline.
Gold is struggling to stay above $650. The DJA is down 100.50 at present and reads 11040.41.
Queenstake (QEE)traded as low as 0.34 this morning and is now 0.35. DROOY (DRD Gold) touched 1.50 and the last trade was 1.53. I had a limit order in to buy QEE @ 0.34, but it is yet to execute.
These are dangerous times in all markets, but gold remains in a long term bull market and the dollar remains in a long term bear market. There have been great paper losses in the market last week and it seems a bit more of the same this week. That will limit the future liquidity.
Have I lost value in the market of late. Yes! But I still see this as a buying opportunity. The drop has been very rapid and, particularly in precious metals, I see an oversold condition. Buying should be coming into the market now.
Are there bargains in the market now that prices have dropped? Yes, but be very careful on any purchases you make. Always use limit orders (Those that limit the price you are willing to pay. They will not be executed above your "limit price".) For the general market, watch out! It could be wise to put trailing stops, if you have not done so in the past on your general stocks. I have been selling the general market for the past month or so.
Stay close to your investments and seek out opportunities to sell and to buy.
Best to each, Doug
Queenstake (QEE)traded as low as 0.34 this morning and is now 0.35. DROOY (DRD Gold) touched 1.50 and the last trade was 1.53. I had a limit order in to buy QEE @ 0.34, but it is yet to execute.
These are dangerous times in all markets, but gold remains in a long term bull market and the dollar remains in a long term bear market. There have been great paper losses in the market last week and it seems a bit more of the same this week. That will limit the future liquidity.
Have I lost value in the market of late. Yes! But I still see this as a buying opportunity. The drop has been very rapid and, particularly in precious metals, I see an oversold condition. Buying should be coming into the market now.
Are there bargains in the market now that prices have dropped? Yes, but be very careful on any purchases you make. Always use limit orders (Those that limit the price you are willing to pay. They will not be executed above your "limit price".) For the general market, watch out! It could be wise to put trailing stops, if you have not done so in the past on your general stocks. I have been selling the general market for the past month or so.
Stay close to your investments and seek out opportunities to sell and to buy.
Best to each, Doug
posted by Doug @ 10:52 AM
0 Comments:
Post a Comment
<< Home