Thoughts on Markets

Monday, June 08, 2009

Buying Opportunity?

DROOY has been hit by profit taking along with the prices of gold and silver. Below 9.00, DROOY is in my buying range. I have been buying today.
Gold was given a big licking on Friday and has yet to recover. It is still whimpering in the wood shed, but the whimpering is lessening as the day progresses. It is showing signs of bottoming and moving back up a bit.
Hecla has been on the sale rack today, too. I have been buying below 3.00 and as low as 2.89. It is now showing some signs of recovery.
Silver suffered greatly on Friday and early this morning as it was hammered again. It is now showing some signs of recovery.
Our miners are as follows: DROOY 8.97; HL 2.95; HMY 10.60; SLW 9.80, and VGZ 2.23.

As mentioned in the past, I am not trading, but accumulating with every large drop. One of these days will be out last opportunity before the gold rush when/if it comes. I believe it will, but the timing is privileged information known to God, alone. After all, He is in control.

If your portfolio, cash on hand, and risk tolerance can handle it, this may be a good buying opportunity for you. Decide for yourself.

Best to each, Doug

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