Thoughts on Markets

Monday, May 05, 2008

Gold A Bit Higher Today

As evidenced in the graphs, above, both silver and gold have moved up some from the lows of last week. Obviously, this was the actions of buyers seeking bargain prices.

The mining stocks are virtually all up now. I am attempting to add to my holdings in DROOY at just above $7. To me, this is a real bargain. The last trade was at 7.05 and the Bid/Ask is now 7.07/7.08. Harmony (HMY) last was 11.80 and the Bid/Ask is 11.80/11.81. That, too, seems like a bargain to me and I will likely put in an order to buy some more.
A bit of humor from the "So... All the stimulus checks are "in the mail"... Or as I see it the $150 Billion tax...  I've gone on record here and in dozens of interviews regarding how I feel about this "stimulus package"... But, Ty Keough sent me a note last week that cracked me up... This is Dave Barry's Take on Government Rebate Checks...

Q. What is an Economic Stimulus Payment?

A. It is money that the federal government will
send to taxpayers.
Q. Where will the government get this money?
A. From taxpayers.
Q. So the government is giving me back my own
A. Only a smidgen.
Q. What is the purpose of this payment?
A. The plan is that you will use the money to
purchase a high-definition TV set, thus
stimulating the economy.
Q. But isn't that stimulating the economy of
A. Shut up."

We have to be bold on the precious metals, because nothing has changed in the fundamentals causing the dollar to be in the long term downward trend. However, from time to time, the corrections are thrashing our portfolios. Remember, that we are holding mostly for the third wave of the blow off in precious metals. That will come come time. When? That is the big unknown.

Keep your focus upon King Jesus and rest in His wisdom and wait for His timing.

Best to each, Doug


Post a Comment

Links to this post:

Create a Link

<< Home