The death of gold stocks

1,397 views

It’s been a while since I’ve blogged.. been busy doing things that matter..
But it’s time for me to write something, something about one of my favourite subjects – PM stocks.

Just a few short weeks ago my trading portfolio was rocking high, doing so well that I was thinking this is it – I can reach my yearly goal.
BUT, for whatever reason I have decided that it’s time to abandon my beautiful DUST and jump into gold and silver miner ETF…
what a mistake it was – I’ll tell you…
I have no rules in my trading portfolio – I can long or short whatever I want with complete disregard to risk managemnt… yep,
that is why I call it ‘crazy port’ … so i was 42% YTD and as it stands now I am up 18…
when something like that happens (it did happen before) – I sell it all and take a break and think and so I did.
Stupid thing about this trade is: when gold was 1630 I sent email to my partner saying that PM is short full force and my target for gold is 990.

Here is my opinion (remember this is just an opinion) and please ignore it if you like.

IT’S OVER FOR GOLD STOCKS FOR MANY YEARS TO COME.

Happy trading,

Mr.P

Here are my picks (FD: holding most for few years now in my investment port):

Long:
Banks: BAC JPM C and XLF and KRE
Pipelines: TRP ENB MLPL
Telecoms: TU RCI BCE
Techs: XLK
SIN: BGK DEO
Retail: WMT TGT HD LOW
Pharmaceuticals: TEVA NVO PPH
Broad market ETFs: VDC VTI VHT
and many more , too many to talk about

Short: COPX

Inverse: DUST (no position currently)

Cheers.

7 Responses to “The death of gold stocks”

  1. Mr. Partridge

    Forgot to say something – when someone picks a winning stock I don’t pay much attention, anyone can do that from time to time.
    Dr. Fly picked a winning market EWJ and It’s big in my investment book…
    HAT TIP!

  2. Fine update.

    In prosaic fashion, a 57% mark up on eagles as “they’re no longer in print.” -random dealers

    Only foreign stamped, but for rare collectibles, coins are on the market.

    I’d call this a supply shortage.

    I would say this is irrational. Naive? Misinformed???

    It would sound crass, and a bit rube-esque, to say the game is rigged.

    I’m glad you write about these issues Mr. P, even if I don’t always comprehend the seasoned terms in which your experienced wisdom is imparted.

  3. thats funny,considering i can get 25 bucks apiece for my silver halts that i’ve been holding for years.when the price is diving,as is the case,then why pray tell does one have to jump thru hoops in hell fire just to procure a silver eagle………..sum ting wong,no?

  4. Mr. Partridge

    Gentlemen,

    I was talking specifically about silver and gold stocks…

    I have not touched my physical which I have started form 300 and made last buy at 990 per oz.. I o not hold silver, except for special coins… May be there is a supply shortage, may be there is manipulation… my point is it is so powerful it will take us much lower… most companies will not survive this.

    Thanks for you input.

  5. yea,the spread is getting fugly. go to provident metals.com.have a look see at some coins.crazy prices. their bullion is priced real sweet.

  6. Thanks for sharing this. I do believe that gold has continue to drop its value. I have also read articles, i think last two weeks ago and it was stated there that gold price has just drop down that it even made those gold owners to sell immediately their stocks before it will continue to drop down below. I hope you’ll continue to post updates from time to time.

Comments are closed.
Previous Posts by Mr. Partridge