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Preaching to the Choir — 6 Comments

  1. Thanks Sir FGC. A very encouraging read, especially as this rally has, or will, begin to backtest and give us newly converted gold bulls our first, nasty jolt.

    With regard to the investments (not trades) many of us now hold thanks to Spock, I am trying to prepare myself for a big drawdown or even the worst case scenario, to be wrong about the new bull, and to wait out another year or so with a loss. I would rather that than panic and sell and miss out on what does look like the new bull in miners at least.

    On a technical note I wondered what people thought of HGU? It holds some of the larger miners favoured by Rambus and investors here (and Rick Rule). It is x 2, but could perhaps comprise a small part of a long term portfolio, perhaps 10% of your PM holdings?

    • HGU is not for long term..it is a derivative of XGD.TO

      It decays like all leveraged etfs

      In a stagnant market it will go down

      No leveraged etfs are for medium term

      Just short 1 to 2 week spurts

  2. Rick Rule is generally on the right path, but his timelines are out. The reason being Rick is not a technician, and feed back I have had about him and others in the space, confirms that they do not generally use charts.

    I also do not agree with his comments about GG. It is not a good company and I will post on why later. There are only a few large cap miners that meet my criteria, and GG is not one of them. This is another reason for not owning GDX (or NUGT) or XGD (or HUGO.T) as a long position, as they include a lot of zombies, like GG.

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