Gold stocks have not done well with the rally in the metal. I'd
move slowly to buy any mining stocks yet. this is a strange pattern
on the $XAU with three bearish evening star candles in the last
three days. I would wait to see a close over the tops of these
candles before going long gold stocks. If we are about to see a
rally in the broad markets it would make sense to see gold and
bonds pull back here.
Posted by parkridge77 on 3rd of Aug 2011 at 02:59 pm
yep overall- unless you are trading the gold stocks- they have
been a very disappointing long these past few years.
GTU is central gold trust of Canada & that reflects spot
quite well- holds gold bullion-- CEF is the silver
equivalent --- just fyi
GG considered one of top gold procducers- Red Lake- I add a bit
to core below 50- it hit the 45-6 area recently
GLD is also recommended for retail as reflects spot pricing vs
the miners which have languished- but hedge funds that have the
recources prefer to take bullion delivery-- GLD is a trust and
could technically sell out /close at any time .
Posted by CopperMtn on 3rd of Aug 2011 at 02:47 pm
Try creating a PerfChart at stockcharts.com. It lets you enter
up to 10 symbols and chart the relative performance for a given
time period. Depending on whether you are day or swing trading
there are also references which price mining stocks based on their
43-101 compliant "ounces in the ground." Another popular measure is
to compare their cost for extracting a gold equivalent ounce. Low
cost producers like AUY and GG are on my list, as is juniors or
small producers headed toward production like GBG, MFN, XRA, JAG.
Explorers like UXG, NAK and NG are speculative because their
operation dates are further out and subject to government and
environmental approvals.
Best Gold Stocks?
Posted by hoshour on 3rd of Aug 2011 at 02:33 pm
Any favorites for gold miners? I'm looking at ABX and GG.
Gold stocks have not done
Posted by ditch on 3rd of Aug 2011 at 02:51 pm
Gold stocks have not done well with the rally in the metal. I'd move slowly to buy any mining stocks yet. this is a strange pattern on the $XAU with three bearish evening star candles in the last three days. I would wait to see a close over the tops of these candles before going long gold stocks. If we are about to see a rally in the broad markets it would make sense to see gold and bonds pull back here.
MACD histogram in your chart argues for buying gold stks now
Posted by hoshour on 3rd of Aug 2011 at 03:12 pm
yep overall- unless you are
Posted by parkridge77 on 3rd of Aug 2011 at 02:59 pm
yep overall- unless you are trading the gold stocks- they have been a very disappointing long these past few years.
GTU is central gold trust of Canada & that reflects spot quite well- holds gold bullion-- CEF is the silver equivalent --- just fyi
GG considered one of top gold procducers- Red Lake- I add a bit to core below 50- it hit the 45-6 area recently
GLD is also recommended for retail as reflects spot pricing vs the miners which have languished- but hedge funds that have the recources prefer to take bullion delivery-- GLD is a trust and could technically sell out /close at any time .
Try PerfCharts
Posted by CopperMtn on 3rd of Aug 2011 at 02:47 pm
Try creating a PerfChart at stockcharts.com. It lets you enter up to 10 symbols and chart the relative performance for a given time period. Depending on whether you are day or swing trading there are also references which price mining stocks based on their 43-101 compliant "ounces in the ground." Another popular measure is to compare their cost for extracting a gold equivalent ounce. Low cost producers like AUY and GG are on my list, as is juniors or small producers headed toward production like GBG, MFN, XRA, JAG. Explorers like UXG, NAK and NG are speculative because their operation dates are further out and subject to government and environmental approvals.
aem
Posted by cufuzzy on 3rd of Aug 2011 at 02:44 pm
You can have my AEM! I've been selling covered calls against it lately at least. If it gets called away I'll buy a different one.
i think HMY has good seasonality about now
Posted by 8899 on 3rd of Aug 2011 at 02:54 pm