There are some sectors that get battered and you really do not have to be there until the carnage is over. Here are some of them.
1. Gold I only one gold stock YRI, a small amount but sold half of the position earlier this week. Should have sold all, since earnings were not great. However most golds stocks sold off, since gold dropped sharply this week and now is below 1200.
maybe gold bottoms soon but will wait, and only have a small amount of a gold stock yri
strong US dollar and the bull, and gold is just showing more weakness, apparently there is no problems, at least in the next few weeks.
2. Base metal stocks, met coal is very weak, and other base metals, can go down the list, copper is showing some strength, well not dropping. still economies growing slowly and strong US dollar, would avoid the group. note : own small positon TCK TCK.b which had good earnings, have calls against the position. but should have got rid of this one to, would avoid the sector, when this sector rallies these stock will double so you do not have to pick a bottom.
3. Energy stock / oil and natural gas I do not own any oil stocks and this has been the case for the year. believe oil would trade around $80 (predictions thread). Still own a small amount of Suncor in a DRIP/SPP account dividend reinvestment and share purchase plan. the energy stocks have taken a hit, and would like to see some strength in oil before I buy back in,.... would like at CNQ (cdn. natural resources, Suncor, Seven Generations (a new IPO that looks good), ECA ecana, and Legacy (on Toronto but for this one needs a higher price.) will wait for stronger oil and gas prices, and yes miss trying to pick the bottom, once this rebounds there will be plenty of gains to be had.
Gartman Gold
was flipping through the channels and caught the very end of an interview with Dennis Gartman in which he was very bearish and wanted to go 95% cash. Well believe there was one more bad day but the bear market dennis feared did not happen. as the 10% correction has been quickly erased. I have found when Gartman says one thing the opposite happens. so he is worth listening to....
note : the longs have been workings, have 3 short positions, had four but closed one out at a small loss. one stock went up 15% stock on no news, but other companies in their industry reported weak earnings and revenue and missed estimates, however none of the stocks have been hit....., welcome to a bull market.
thanks
selkirk
1. Gold I only one gold stock YRI, a small amount but sold half of the position earlier this week. Should have sold all, since earnings were not great. However most golds stocks sold off, since gold dropped sharply this week and now is below 1200.
maybe gold bottoms soon but will wait, and only have a small amount of a gold stock yri
strong US dollar and the bull, and gold is just showing more weakness, apparently there is no problems, at least in the next few weeks.2. Base metal stocks, met coal is very weak, and other base metals, can go down the list, copper is showing some strength, well not dropping. still economies growing slowly and strong US dollar, would avoid the group. note : own small positon TCK TCK.b which had good earnings, have calls against the position. but should have got rid of this one to, would avoid the sector, when this sector rallies these stock will double so you do not have to pick a bottom.
3. Energy stock / oil and natural gas I do not own any oil stocks and this has been the case for the year. believe oil would trade around $80 (predictions thread). Still own a small amount of Suncor in a DRIP/SPP account dividend reinvestment and share purchase plan. the energy stocks have taken a hit, and would like to see some strength in oil before I buy back in,.... would like at CNQ (cdn. natural resources, Suncor, Seven Generations (a new IPO that looks good), ECA ecana, and Legacy (on Toronto but for this one needs a higher price.) will wait for stronger oil and gas prices, and yes miss trying to pick the bottom, once this rebounds there will be plenty of gains to be had.
Gartman Gold
was flipping through the channels and caught the very end of an interview with Dennis Gartman in which he was very bearish and wanted to go 95% cash. Well believe there was one more bad day but the bear market dennis feared did not happen. as the 10% correction has been quickly erased. I have found when Gartman says one thing the opposite happens. so he is worth listening to....
note : the longs have been workings, have 3 short positions, had four but closed one out at a small loss. one stock went up 15% stock on no news, but other companies in their industry reported weak earnings and revenue and missed estimates, however none of the stocks have been hit....., welcome to a bull market.
thanks
selkirk
