Beating a dead horse ?????

[bear]

I don't think so!...................... Another 100% this month and I'm not sellin 1 share

My DROOY stake is up from 1.20 to 4.64 and I believe that (in spite of CNBC and the American press) the party is just about to begin.

History on my side, fundamentals on my side, technicals on my side...............fast covering gold shorts against me. No matter how hard govts and central banks tried to demonetize gold in the 1990s and push the "good faith" dollar............it did not work! AND as a result...Right Now....adjusted for inflation........GOLD is cheap........After 10 years of listening to gold is crap........many are reluctant to buy mining shares which historically lead a dramatic rise in POG..............

Well, Japan, India, China etc..........happen to value gold and they are now buying and buying lots........Just time before shorts really scramble to cover..............

So....while the tech crowd tries to chase the fallen angels to no avail..........some of us "goldbugs" are cashing in big and the game has not even hit our shores yet.

Tons of stuff on this but little time to post it.
I've seen a gold rush before and its worth waiting for.

I may be wrong but..............most of my eggs are in this basket and the ride is nice.

Good luck to all!
bear

 

[Equity Trader]

The golden truth

The golden truth

Although gold has lasted for thousands of years and will endure for equally as much,the luster in the way of investment purpose will be based for attracting any investment potential soley on the demise of modern civilization...The latter is very unlikely....When the US took gold off as the standard for the benchmark of kenesian economics and most western economies followed,it became a wanted commodity only for numismatic purposes,your finger and around your neck....

There is a glut in gold and the recent rise was soley contributed to the situation in the Middle East...Many countries and banks are selling their holdings to meet their internal expansions. Gold will always be a haven for the speculation of global turmoil,but the eventual rise in price will in no doubt fall back as a more stable environment settles in.


Mining companies are being consolidated as production costs becomes a major factor for smaller companies to compete...These same companies have been hedging the future from the eventual pot of gold to almost wipe any investment return to investors.


Have a good day......

 

[selkirk]

agree with some of both of your points ET and Bear. my gold investment is in a mutual fund Royal Bank Precious metals fund (cdn.) it had a great 2001 and so far has done well in 2002, of coarse owned it since 1998 and some years were dismal.

my main gold stock I owned was Franco Nevada which was taken over (merged). Newmont

Bear I have about 2-3% in gold investements should have been more since the sector has done well, maybe get it up to 5-10%.
not a gold bug and do not think it will go to $400 or fly to $800 and beyond.

then again you do not need that if gold breaks to $320-$350 gold stocks will have a great year. seniors and juniors will move higher, especially juniors. not a long term gold bug but if it can rally just 15% gold stocks should do well.

in the 90s in Canada there was a mania in mining stocks (diamonds/gold) it does not take much (Diamond fields $3-$125) couple of years, Bre-X (hoax) pennies to $250, Greenstone $1-$19, ect. most of these companies fell back down still let us hope it happens again. I mean a few acres of moose pasture can be worth millions with a good story at the correct time.

I see gold around $310.

thanks
selkirk

 

[bear]

Equity Trader,

Gold......
Basis for investment potential will only be the "demise of Modern Civilization"
Sounds familiar..........but I disagree.

Gold is valued by many throughout the "modern" world as a store of wealth and security...I dare say it will outlast the almighty dollar as it has all other currencies.

See, we got problems not the least of which is debt. and as many investment opportunities are cyclical ...Gold...is the NOW investment. There are no new "New Paridigms" People bought all that crap and eventually had to eat it.

Now, Americans in debt.......read recently that historically Americans debt to GDP ratio is 1.5/1......however, we binged in 1929......2.6/1.........and NOW over 3/1....how will this play out ???
All I know is that I'm damned glad that Real estate bubble allows us to continually borrow and refinance. All will be well soon...interest rates will remain low, inflation is dead, taxes going down yada....yada.....yada

Bubbles Burst........... and market leadership changes.......Gold + oil in the 70sThe Nikeii in the 80s, S&P in the 90s.....Now what. Well, we save for the future ......dont we... NO.....not individuals or businesses and as Bill Bonner suggests......the credit bubble may be the next to burst.

Add to the fire the $$$$ we throw at war, military buildup, security, and the everpresent chaos from the Middle East and it is no surprise to see Gold as the worlds strongest currency over the last 2 years....visa vis...the yen, Euro and the dollar.

Sure looks like this little bull is getting legs in a cyclical way and as demand soars as it did after 1929 and after 73/74 the POG will soar as well..........

GL
bear

 

[Sportsaholic]

Bear,

I took a major bath a few years back in gold fraud-scam-ect. Still have 2000 shares of a company called Golden Hemlock. They were halted, going to merge will another company. Thing has been dead in the water for a good 2+ years.
Have you ever heard or know about what's going on with this company :shrug:

Thanks, glad your having a nice run!