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Thread: Anyone Buying Gold Here

  1. #25

    Join Date
    Sep 2006
    Location
    Upstate NY
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    45

    Default Re: Anyone Buying Gold Here

    Played contrarian and decided to start a run at the miners this week. Will purchase more if it goes lower. Hoping for at least a 9-12 month holding period.

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  3. #26

    Join Date
    Apr 2005
    Location
    Gainesville, Florida, USA
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    24,244

    Default Re: Anyone Buying Gold Here

    I've been dollar cost averaging into GDXJ and GFI the last couple weeks and will continue with that strategy until gold hits $2000.00.

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  5. #27

    Join Date
    May 2011
    Location
    Florida
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    Default Re: Market Outlook

    Anyone buying Gold down here below $1,400?


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  7. #28

    Default Re: Market Outlook

    Just bought some silver
    100% G Fund COB 13 March 2020

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  9. #29

    Default Re: Market Outlook

    Quote Originally Posted by bmneveu View Post
    Anyone buying Gold down here below $1,400?
    Ugly chart - unless we see a double "W" bottom.

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Please do your own due diligence.

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  11. #30

    Default Re: Market Outlook

    Quote Originally Posted by tsptalk View Post
    Ugly chart - unless we see a double "W" bottom.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Please do your own due diligence.

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  13. #31

    Join Date
    Apr 2005
    Location
    Gainesville, Florida, USA
    Posts
    24,244

    Default Re: Market Outlook

    I continue to nibble on GFI and GDXJ because I'm crazy.

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  15. #32

    Default Re: Market Outlook

    I'm crazy too. I bought some GDXJ yesterday morning, but I'm going to dump it if it makes new lows. Holding onto gold miners is not for the faint of heart.
    2 Corinthians 5:21

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  17. #33

    Default Re: Market Outlook

    I was playing with AUY for a few months, got a nice run up, sold it, then thought I was buying it back low at $13 - then it sank another 20%. Hoping I'm patient enough to recoup the loss.

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  19. #34

    Default Re: Market Outlook

    Quote Originally Posted by ContrarianJeff View Post
    I'm crazy too. I bought some GDXJ yesterday morning, but I'm going to dump it if it makes new lows. Holding onto gold miners is not for the faint of heart.
    Before you sell it, check out this article about Soros:
    Soros Reports Over $239mm In Gold Positions, Buys $25mm In Call Options On Juniors | Bull Market Thinking

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  21. #35

    Default Re: Market Outlook

    Quote Originally Posted by jonfresno View Post
    Interesting. Thanks for the link. But just being honest, I've seen this type of thing from gold bugs for years. There is always a good reason why gold and miners should go up. Always. And then they just keep falling. Trading/investing in gold and miners can make you poor in a hurry. Because I prefer to buy low (and sell high), I like doing a little bottom fishing in beaten down sectors--especially when sentiment is at all-time lows (like it is with gold and miners right now). But I've lost more money trying to make trades in gold/miners than I care to count. Even when gold has been on a tear, miners have lagged. A lot of miners are near their 2008 lows, even though (I think) gold has more than doubled since that time. If you look at a chart of GDX or GDXJ, you'll see that shares of miners are going to have double and even triple before getting back to 2011 levels. Maybe even more incredible is the fact that GDXJ is going to have to rise by 50% or more just to get where it was in March and the first half of April. If yesterday was a meaningful bottom in the miners, then I'm going to hold on to these shares (GDXJ and NEM) for a while (and hopefully make a decent chunk of change). But I have no problem selling for a loss (hopefully a small one) and living to see another day. I guess I'm too much a wimp--my stomach can't take the way the miners, in a bear market, often drop 5% to 10% on a regular basis.
    2 Corinthians 5:21

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  23. #36

    Join Date
    Jan 2010
    Location
    Redding, CA
    Posts
    1,445

    Default Re: Anyone Buying Gold Here

    I'm not going to buy any gold, but I might get my shovel and sluice and jump in the river and dig some up.

    Who am I kidding I used to do that 20 years ago (I have about half an ounce), but 2 back surgeries in the past 6 years means I can only mine in my dreams and memories.

    I looked into selling that gold last fall when the price was in the $1650 range. The old rules still hold - you buy at a premium+ and you sell at a heavy discount.

    If you invest in mining companies you are subject to performance mistakes of the company and sentiment of the group by investors. I think I'll just stick to the GLD when the time comes to buy.


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