time to pick up gold/silver miners?

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murphy_p_t
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time to pick up gold/silver miners?

Post by murphy_p_t » Wed Aug 12, 2015 11:28 am

time to pick up gold/silver miners? They're making some nice moves past few days...after being devastated.

How to identify if the bottom is (likely) in?
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Cortopassi
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Re: time to pick up gold/silver miners?

Post by Cortopassi » Wed Aug 12, 2015 3:30 pm

Roll of the dice.  When I switched 100% into the PP, I got out of GDXJ at the level shown (March 2014), which was at a loss.  A Big Freaking Loss.  Now it currently looks like I was at least partially smart.

So GDX and GDXJ are certainly more attractive now vs. then, but is it a bottom?  And how to predict one?  If you have a VP, and money into miners should really only be cash you were willing to blow in Vegas or on Lotto!

Image
But what do I know?
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ochotona
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Re: time to pick up gold/silver miners?

Post by ochotona » Wed Sep 09, 2015 10:30 pm

I would only buy established companies, like Barrick or Newmont.  Even so, large risk. But it does occur to me, the miners might lead other sectors out of whatever equity correction we might end up with in the near future, as they have been so mercilessly beat down since 2011. Newmont is A rated by Schwab, and Barrick is B. Barrick is really cheap because the Canadian Dollar is down (CAN$ 1 = US$ 0.75). I have budgeted 0.4% of my assets on a miner, when it starts to perk up from an apparent bottom. Not sure I want to spend any more than that! If it goes up by 3X or 5X in coming years... cash out and take a nice vacation!
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MediumTex
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Re: time to pick up gold/silver miners?

Post by MediumTex » Thu Sep 10, 2015 12:02 am

Maybe a mixed play on the recovery of metals and oil in the form of FCX.

Very risky place to be, though.
Only strength can cooperate. Weakness can only beg.
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Reub
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Re: time to pick up gold/silver miners?

Post by Reub » Thu Sep 10, 2015 2:10 pm

It's foolish to put even more money at risk in gold plays if you're following the PP. 25% is more than enough in this one asset class. Go play cattle futures or something else.
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Re: time to pick up gold/silver miners?

Post by Reub » Thu Jan 21, 2016 2:26 pm

https://pbs.twimg.com/media/CZRP0uLVAAADF6D.png:large

The chart looks very bad for gold miners. I'm glad that I didn't buy FCX either.
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ochotona
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Re: time to pick up gold/silver miners?

Post by ochotona » Thu Jan 21, 2016 10:07 pm

I bought a tiny little slice of GDX, 0.5% of my portfolio. Lottery play money. Down 80% from the peak...
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Re: time to pick up gold/silver miners?

Post by var » Fri Jan 22, 2016 9:27 am

looks like a good time to buy it... but only for trading i'd prob sell shortly after...
gold still looks like its in a down trend.
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ochotona
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Re: time to pick up gold/silver miners?

Post by ochotona » Thu Feb 04, 2016 10:25 pm

ochotona wrote: I bought a tiny little slice of GDX, 0.5% of my portfolio. Lottery play money. Down 80% from the peak...
My slice of GDX is up 21.76% since I bought it! But I fear it won't last. I have a tight trailing stop on it.
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ochotona
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Re: time to pick up gold/silver miners?

Post by ochotona » Fri Feb 05, 2016 10:23 pm

Up 29% !
rickb
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Re: time to pick up gold/silver miners?

Post by rickb » Fri Feb 05, 2016 10:56 pm

ochotona wrote: Up 29% !
What is your upside target at which you'll sell?

If you don't have one, I suggest you get one.
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ochotona
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Re: time to pick up gold/silver miners?

Post by ochotona » Sat Feb 06, 2016 6:55 am

This was pretty much unexpected. I bought 400 shares and just put them aside thinking they were a long term investment. Then they exploded like a firecracker in my hand.

After every daily increase in price, I raise the stop limit sell order to 95% of the latest closing price. So I'm guaranteed to harvest 95% of the gain. I think this thing is going to roll over in the not distant future, then I will get sold out, but with a smile.

If it goes up more, I might make the stop limit sell 90%, so I can keep playing with less liklihood of being thrown out by volatility.
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