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Sunday, November 15, 2009

Gold Miners

When it comes to gold miners, I wish back in October 2008 I would have put every nickel into gold miners and walked away for years. Would have saved much anguish. As Gary of the Smart Money tracker points out, trying to time the markets is impossible.

But I am going to try....and possibly fail...to time it again. Since 11/3, I have been back in some gold miners and GDX, with impressive returns, of about 8-20%, not bad for two weeks. Monday I am going to sell until some clearer direction materializes.

If you can stomach the long haul, and you have positions, ignore my waffling. But for now I am going to move back out, and hopefully jump back in when GDX is back down to the bull trend line.

I adjusted the recommended stock plays accordingly

UPDATE: I just read Gary of Smart Money tracker report, he has similar opinions. I can't recommend strongly enough paying for his service. I was reviewing EWI & TheChartStore that pushed me to run like a little girl away from the scary gold miners.

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