TSX:LSG.DB - Post by User
Comment by
onehafnorseon Apr 25, 2009 1:00am
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Post# 15944095
RE: gold coming back to burn arrogant shorts
RE: gold coming back to burn arrogant shortsYep its very difficult for me to trade the fluctuations in the price of gold. On a well known TV show I saw the CEO of an electronics company showing the newest device for traders. It was the size of a small TV frozen dinner package .It made as many calculations that you wanted to program and you plugged it into your market information monitor and it bought and sold stock options automatically for you all day long and of course you got a print out of your profits at the end of the trading day. There is absolutely no way I could compete with all the high priced technology on a day trading basis. So my answer FWIW is to take long positions and patiently wait for the results, many times for years.
I believe in "stuff" in the ground, has very good value. However this latest market disaster has caused a lot of folks severe losses. FWIW I have positioned myself in commodity plays that have value to the worlds population if there is no inflation and the world overcomes its problems. To balance the equation I have a good sized position in gold mining shares.We will see how this economy does in say two or three years.
All the best,Patiently waiting.
Onehafnorse.