Taylor says hold timmins goldTaylor says hold favourite Timmins Gold
2008-10-31 19:34 ET - In the News
Jay Taylor in the Oct. 16, 2008, edition of Gold, Energy & Tech Stocks tells readers to hold one of his favourite stocks, Timmins Gold Corp., recently 61 cents. Mr. Taylor first bought the stock in September, 2006, at 32 cents, and since that time he has bought the stock two more times and sold half twice. Assuming a $1,000 investment for each of the three buys, the two half sells would have resulted in profits of $573 and $649, respectively. Mr. Taylor's current $1,750 investment is now worth $1,771. Mr. Taylor says that the market is the midst of a deflationary period, not only with credit markets continuing to implode, but also with the housing markets not showing any signs of a bottom yet. Given this environment, the newsletter writer likes gold stocks, like Timmins Gold, that are currently producing or are close to production. He says to hold onto this near-term gold producer.