Opinion on gold stocks?

Discussion in 'Commodity Futures' started by SlickRick, Sep 27, 2003.

  1. Gold has been making new highs, except for 9/25 and 9/26. The s&p has crapped out (for now anyway), and we're going to into some earnings.

    Please share any technical or fundamental highlights when stating your bias.
  2. Next week will be really critical. If it holds 375ish, I think the rally will continue-- really depends on whether the premiums for physical in India and China hold up.

  3. I think we hold for a few days and rally again.We are in the second inning of a long term move.

    I intend to add a bit lower. It is already about 30% of assets.
  4. Mvic


    I agree with the longs. I have been long 20 YG since 368 (as posted in ET weeks ago) and almost got stopped out on the recent pull back. I think $400+ is in the cards for this year and possibly as high as $425 briefly. I am thinking of adding to my position next week. The fact that the WB in all its wisdom called for Gold under $300 just makes me feel better about my long position given their track record :)
  5. Technically, gold should hit its 4 month cycle high about Sept. 31 ,give or take a few days.I wouldn't be surprized to see a retracement to the 360 level.The technical low of the four month cycle should occur in oct or nov ,before heading higher and could test the 400 level by the next peak ,jan31.As for the stocks themselves, they're inexspensive on a comparitive basis.Would expect gold and gold stocks would appreciate until at least the end of next year, considering the fed has already let us know that they'll accummulate almost a trillion in new debt by then.I have some long positions but also have positions I trade.With gold at these levels, the stocks will be the envy of the markets with some serious top line earnings growth.
  6. Along with index put options, gold stocks were my best performers last year.The easiest money I've made since the bubble.