Smart man selling MUX. Today was a bad day. Shiny stuff fell off dramatically. Hoping it’s just a quick correction on the heals of the Fed and not a down trend. Not pulling the plug completely yet on the mining fund, but if I don’t see some people jumping back in tomorrow for some lower buys, I’ll likely move it all out.
Thoughts SchoolsOut?
“Wailord”
1979 17’ Montauk
90 Johnson
Wilderness Ride 115
It is a needed correction (a dump of $1.5B in gold during quiet hours helped spark this downward movement)…a lot of mining stocks up 4-12x this year. I traded MUX a bit and made some money, but bought back in (it’s really a long term play for me) around $4.2x avg in one account and one a little lower in my reg account. I’ve also picked up about 8k shares of GPL, but down on that one, too…plan is to hold it for a few months.
Gold can fall a good bit more (200 dma) and still be in bullish trend. That said, seasonal buying in gold (toward end of year) should help keep it afloat (and, hopefully, push it higher).
I’m still holding on to some MUX, it’s not doing too bad in the long run. Like shooting craps and betting on the Come Line, but it’s just fun money anyway and stocks are long term. We’ll see.
I was nervous today and thinking maybe I should have pulled the plug sooner, just waiting for smarter folks to start back buying the dip. 10am came around and I got a sigh of relief. Hoping we just had a mild correction from the Brexit folks that ran the metal and mining up quickly. I can deal with pre-Brexit prices. My “sell” threshold was when it hit the price it was just before the Brexit vote. That would have been today if it hadn’t made a turn in the 3%+ territory.
Smart man selling MUX. Today was a bad day. Shiny stuff fell off dramatically. Hoping it’s just a quick correction on the heals of the Fed and not a down trend. Not pulling the plug completely yet on the mining fund, but if I don’t see some people jumping back in tomorrow for some lower buys, I’ll likely move it all out.
Thoughts SchoolsOut?
“Wailord”
1979 17’ Montauk
90 Johnson
Wilderness Ride 115
It is a needed correction (a dump of $1.5B in gold during quiet hours helped spark this downward movement)…a lot of mining stocks up 4-12x this year. I traded MUX a bit and made some money, but bought back in (it’s really a long term play for me) around $4.2x avg in one account and one a little lower in my reg account. I’ve also picked up about 8k shares of GPL, but down on that one, too…plan is to hold it for a few months.
Gold can fall a good bit more (200 dma) and still be in bullish trend. That said, seasonal buying in gold (toward end of year) should help keep it afloat (and, hopefully, push it higher).
Back in the green in all accounts (Both MUX and GPL) except for a retirement account, but it’s all good. Nice little ride the past few weeks
Bet you all wished you knew that Apple was adding Nintendo to the App store. Just announced, and the stock is already up 24%. If I had a quick buy stock account I would have dumped a few K in there right when it was announced.
Yup, should settle back down nicely, but when I saw the announcement, I knew it would go up quick.
I would set me up an account for the occasional day trade, or quick flip, but I think I would get into more trouble than good. Kind of like trying to walk into the casino with $200 and then reloading 4-5 times.
quote:Kind of like trying to walk into the casino with $200 and then reloading 4-5 times.
I went into a casino in Aruba with my wife and our 18 year old son 10 years ago, with $300 to waste between the 3 of us. We walked out 8 hours later with our 2 week stay in a really nice place fully paid for, did a lot of eating and drinking for 2 weeks, and came home with something over $14,000 above what we left home with. Built a really nice boat with the extra
Sometimes you get the bear. Sometimes the bear gets you
I could tell some stories where the bear got me too. What don’t kill ya just makes you tougher and smarter.
