Gold at Bargain Prices I Never Imagined!
For 24 hours gold has traded as low as $620.90 and silver at $12.03. What bargains! Will they go lower? Possibly, but both are greatly oversold at these levels. The speed of the drop and the depth of the drop is significant. A bounce to the upside should be forthcoming soon.
The long term bull trend in precious metals is still intact, but this is a serious set back.
BGO @ 5.38; CBJ 3.08; CDY 2.26; CEF 9.18; CGDF 1.44; DROOY 1.52; EGO 4.91; GSS 2.98; HMY 13.94; IAG 9.33; MDRRF 1.28 (w/o a trade today); MFN 7.49; MNG 3.51; MRD 3.19; NEM 50.93; NTO 4.75; PAAS 18.67; QEE 0.39; RNO 1.90; SSRI 18.25. All are suffering at present.
Be cautious about buying! If you are buying, ease into each position and use limit orders. If you are without mining stocks, I suggest you consider purchasing now. If you are holding mining stocks consider increasing your positions as the prices come off these bottoms.
We are finally getting some rain and more is predicted today. Hopefully, the Lord will supply a good bit of rain to relieve this drought. It is amazing how a little rain will turn the grass green almost immediately. What a blessing from above!
I am not selling mining stocks at this time and will likely add some more today or tomorrow. We must follow the trend; that is, the long term trend.
Note: I corrected the prices in yesterday's blog post.
Best to each, Doug
The long term bull trend in precious metals is still intact, but this is a serious set back.
BGO @ 5.38; CBJ 3.08; CDY 2.26; CEF 9.18; CGDF 1.44; DROOY 1.52; EGO 4.91; GSS 2.98; HMY 13.94; IAG 9.33; MDRRF 1.28 (w/o a trade today); MFN 7.49; MNG 3.51; MRD 3.19; NEM 50.93; NTO 4.75; PAAS 18.67; QEE 0.39; RNO 1.90; SSRI 18.25. All are suffering at present.
Be cautious about buying! If you are buying, ease into each position and use limit orders. If you are without mining stocks, I suggest you consider purchasing now. If you are holding mining stocks consider increasing your positions as the prices come off these bottoms.
We are finally getting some rain and more is predicted today. Hopefully, the Lord will supply a good bit of rain to relieve this drought. It is amazing how a little rain will turn the grass green almost immediately. What a blessing from above!
I am not selling mining stocks at this time and will likely add some more today or tomorrow. We must follow the trend; that is, the long term trend.
Note: I corrected the prices in yesterday's blog post.
Best to each, Doug
posted by Doug @ 9:50 AM
0 Comments:
Post a Comment
<< Home