I have a bevy of gold and silver mining stocks....

    Posted by RichieD on 14th of Sep 2012 at 01:56 pm

    that have made huge gains the past month or two and are now trading outside their upper Bollinger Band and seem oversold on the RSI indicator and others.  Unlike the non-precious metal stocks which I trade short term, I tend to hold the gold/silver miners for the long-term ride up.  Nevertheless, these have risen so far so fast that I'm wondering if it makes sense selling some now with an objective of re-purchasing after a significant pullback......or whether I'm playing with fire with such an approach.

    Thoughts???

     

     

    sell half now.  put a

    Posted by darnelds on 14th of Sep 2012 at 02:43 pm

    sell half now.  put a trailing stop on the rest, if your broker can do it.

    Gold mining stocks

    Posted by jaysz on 14th of Sep 2012 at 02:12 pm

    I have been buying and selling gold stocks since 1974.  I have been a financial advisor for the past 19 years. My best advice is if you are long term bull on these stocks, as I am, you should always have some in your portfolio. You can use this current period to rebalance when we get a sell signal. Secondly, you should always have a trading position either short or long. If things get bad you can use puts to hedge your position. Matt's systems provide great guidelines.

    This very fast move up

    Posted by freddy123321 on 14th of Sep 2012 at 02:12 pm

    This very fast move up usually ends quickly also. Moved beyond my wildest dreams. From other quick moves , similar to gold miners, this is certainly time to be cautious. Very scary reversals might happen

    Puts are cheap. Topping action

    Posted by freddy123321 on 14th of Sep 2012 at 02:14 pm

    Puts are cheap. Topping action does usually take time.

    I also tend to stay

    Posted by zwyss on 14th of Sep 2012 at 02:08 pm

    I also tend to stay long the miners. It probably makes sense to sell a part from time to time and buy back on a pullback. But given the facts that gold miners are undervalued, gold has broken the downtrendline and has to go much further and also helicopter Ben who is making a very good job in destroying your currency.... it seems to be very difficult to pick temporary highs.... I tried it a few days ago and could not catch a perfect reentry...

    The gold stocks seem overbought

    Posted by wowten on 14th of Sep 2012 at 02:14 pm

    The gold stocks seem overbought and with commercials short huge, some type of pullback is in order.  Watch for sell signal

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