Well did not post my predictions thread, did it for my shareclub, 2nd week of Jan. Was going to post it here but some things got in the way, was going to update them. Frozen water pipes, and some big storms, but that can happen, been a long winter. Soon people can complain about the heat...
Gold in the predictions thread talked about how I hated gold (note in 1998 talked about how I hated oil, well much higher than $10.) , but something started happening in Jan, gold stocks started going up, you can cite reasons, but not did not exist before, probably the sector got beaten down.
anyways sold ABX for a very small loss, just sick of the bad management, ect. and bought 4X my position of YRI Yamana gold at 10.40 10.60 and sold a april 11 call for .80 believe this is good and if I lose the stock and decent gain for less than four months.
ABX has recovered also and would have had a small gain, but they have high costs, (Note most mining companies do not make money at current prices.) took the money and bought a small amount of Silver Wheaton a royalty play on silver and gold.
would look at silver wheaton below 26 cdn.
cash is very high not on porpose just sell some gains and do not want to chase, hope for a 10% correction if not more, plenty of stocks I like just cheaper, what new.
Suprised by the run in fertilizer stocks, but believe they will come back, good long term investments but this year believe they will trade flate
Will stay away for base metal stocks, only own one and have covered and uncovered calls against it, met coal is only getting worse it that is possible, and copper is acting terrible.
copper is Dr. copper for projecting the ecomoy, but that is wrong maybe this time, in China it has been stored as a financial tool, (backing for loans,ect), and many large copper mines are being expanded, so supply will be higher in the next 1-5 years. would avoid all base metal companies until they act better, never try to pick a bottom in a sector.
Cnd. oil sand stocks like SU suncor and CNQ have had small bounce backs, but have not added or sold my positons.
thanks
selkirk
Gold in the predictions thread talked about how I hated gold (note in 1998 talked about how I hated oil, well much higher than $10.) , but something started happening in Jan, gold stocks started going up, you can cite reasons, but not did not exist before, probably the sector got beaten down.
anyways sold ABX for a very small loss, just sick of the bad management, ect. and bought 4X my position of YRI Yamana gold at 10.40 10.60 and sold a april 11 call for .80 believe this is good and if I lose the stock and decent gain for less than four months.
ABX has recovered also and would have had a small gain, but they have high costs, (Note most mining companies do not make money at current prices.) took the money and bought a small amount of Silver Wheaton a royalty play on silver and gold.
would look at silver wheaton below 26 cdn.
cash is very high not on porpose just sell some gains and do not want to chase, hope for a 10% correction if not more, plenty of stocks I like just cheaper, what new.
Suprised by the run in fertilizer stocks, but believe they will come back, good long term investments but this year believe they will trade flate
Will stay away for base metal stocks, only own one and have covered and uncovered calls against it, met coal is only getting worse it that is possible, and copper is acting terrible.
copper is Dr. copper for projecting the ecomoy, but that is wrong maybe this time, in China it has been stored as a financial tool, (backing for loans,ect), and many large copper mines are being expanded, so supply will be higher in the next 1-5 years. would avoid all base metal companies until they act better, never try to pick a bottom in a sector.
Cnd. oil sand stocks like SU suncor and CNQ have had small bounce backs, but have not added or sold my positons.
thanks
selkirk