RE: RE: RE: pay offBagOfGold...no offence but rule number #1 don't fall in love with any stock. I have been in and out of NGD several times when it made sense... I don't bash stocks period ...If I like the stock I tell people why I like it... and give reasons for liking it.
People may agree, or disagree with my... why. If I don't like a stock I just leave the stock and keep my mouth shut why... because I don't tell people to sell... THAT's up to them.
I will however, suggest as I did a few posts back that the US dollar was likely to head up and it did and that the market as a whole is so over bought it's not funny.
Many smart people ( I will not list here) are calling for a market correction likely back to the 200 day MA, or lower to levels that the market saw this summer. Many are calling for this correction around the US thanksgiving or later but likely before January.
The US is a financial mess period... they are about to get hit by the next wave of foreclosures and mortgage resets BIGGER then the last mess. The Big US banks aren't lending anymore... unless the US government buys that loan off them!!! THAT cannot last!!!
The US Treasury now own around 1.7 trillion in mortgage debt ... bought off the US Big (4) Banks. They are just letting the 800 or so small ones go belly up slowly (they made most of the commercial loans now going belly up). On January 1, 2010 growing debt from bad loans will go back onto the big Banks Balance sheets accounting rules(FS167)... if you think that won't cause another credit crunch ....your very mistaken... there will be a double dip.
And even though I like gold and gold stocks the rush to the exits will be sharp and hard AND ALL stocks will suffer.
That's why I am in cash and/ or doing PUTS only... now. I just made a pile in two days doing a PUT on ABX but there are others I could do very easily.
If you want to hold your NGD through the next expected and over due market correction... fine that's your right but others aren't here to post just to get the price down THE MARKET will take care of that.
The DOW could get back to 8747 (200 Day MA) or go to 8100, the S&P down to 937(200 Day MA) or 879 summer low, the TSX could go to 10,132 or 9653. There will be correction bet on it ...that snow storm is coming!
Cheers