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Wednesday, August 29, 2012

Short term, out of miners

Miners went up 20% in a month.  If holding for years, can still keep holding.
For others trying to "outsmart" the market, a sell now, or if/when GDX crosses below 46.5.

Up 20% in a month is too good to be true. In a market that pays 3% interest on 30 year federal bonds, best to take profits and buy back later.

This counters my "time to start buying" miners back in July, near term.  For a true professional, subscribe to Gary of Smart Money Tracker.

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