...Ahh... Least we forget.Just a reminder - an older post from June - how soon we forget! Bullish for now? The downturn of 08 and 09 was worse and impacted all sectors. It always gets worse before it gets better. Many gold miners (most miners for that matter) are at or lower than those levels in SP. The larger players in the market want to sweat everyone out and are so doing. It’s so rigged that gold will be driven down only to be driven up again when things look like they are completely done for the sector. We forget it happens time and time again and we always have the tendancy to freak out when these things happen. RULE NUMBER ONE IS TO NEVER BUY MINERS ON MARGIN IN A BEAR MARKET UNLESS YOU ARE SHORT. RULE NUMBER TWO IS BE IN CONTROL OF YOUR INVESTMENTS SO THAT YOU CAN SWEAT IT OUT IF YOU HAVE TOO. RULE NUMBER THREE IS TO ALWAYS BE BALANCED AND HAVE SOME CASH ASIDE IN ANY MARKET. If you do these things you will not care what POG or anything else is doing day by day.
If you want to trade and don’t have a plan (not something you should be doing)… Remember to be patient because selling on days when everyone else is selling is never a good idea.
GWH