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closed 2 positions today — 29 Comments

      • Idk Spock. At the end of the day, there really are so few solid producers with great management that, even at this stage, are proving up more and more resources at fantastic grades. I can live without MUX, simply based on prior experience with their massive dilution during the prior gold run. But Newmarket is in a class by itself, proving production growth with low cash costs. Against the explorers, I have to balance my portfolio with producers.

        Did something change (besides index inclusion) to change your mind from your earlier post on the bull flag chart pattern/40 mil cross in Canada.?

  1. All right, got some more cash, then. NMI and MUX were great runs. Bravo! About 6% cash going into the Fed/BOJ announcements. Anyone want to venture a guess on the outcome? Surely they wouldn’t hike less than two months before an election when 80% of the market isn’t expecting it. Right?

    • Whenever the market anticipates something, the outcome is usually opposite.

      Right now, everyone expects no rate increase with good reasons (just like Brexit). I have cash in hand as well in case PM plunges and corrects further.

      If you want to play a short-tern lotto, tomorrow morning is your last chance.

      • Considering the rally gold had off the December rate increase, maybe we need another one to shake out the latecomers. Those playing the long game are looking toward what happens at the end of the Fed’s cycle. A Fed-induced market disruption also plays to Trump and as his chances improve, crisis becomes a distinct possibility.

  2. Mr Spock ,” Mux is the kind of stock to hold along this new bull market , ” I followed this your indication and I will hold , is not important for me the correction , I am not a trader….if you know some inside bad news about Mux , please tell us …..

  3. Conflicting thoughts:

    1. We shouldn’t slow Spock down or keep him from what we know he does exceptionally well (even though he may do other things well). If I don’t know a company through and through (in the case of NMI I know it only via Spock). I don’t want to hold a lot of it on my own.

    2. I figure that if I don’t know a company very well, I shouldn’t be pressing Spock to suggest whether he has heard something bad whispered about it. Pressing him might amount to hindering him from doing what he does what he does well. I simply sell if he sells and I don’t have a strong sense about it.

    2. Yet I too would like some to hold for a long time. It’s not just tax reasons. It’s my temperment, it’s having some diversification. I did not feel entirely happy making my sales, though I consoled myself at the thought of being able to buy more rocks etc.

    So I pulled the trigger on NMI, reluctantly, and a large fraction of my MUX (which I have a better sense of in part via having met McE back when Goldcorp was a penny stock). When all these little tiny stocks go way way higher (as I expect them to within a few years) I actually plan to dump most of them and maybe hold royalty companies and sit back, at least provisionally. In the mean time, as much as I’d like Spock to suggest longer term holdings, I’ll hold off and be happy as he does as he does. No long term investment suggestions, no saying whether or not he’s heard anything bad or not about company XYZ…

  4. We’re buying down the value chain. NMI and MUX were and are probably great companies, but they’re on the open seas now (in the ETFs) and their stock is subject to additional forces beyond their control. The way I see it, we’re buying minnows and holding them until they’re big enough to swim in the ocean. That’s the best growth profile, even if it’s not nearly as fast and predictable as the growth of fish.

  5. Thanks Spock, so I looked at a few sites for holdings and found that Sabina, Roxgold, and Lydian are in GLDX. And Teranga is in GDXJ. Holding lists vary depending on which site you go to. I don’t know what I’m going to do at this point with NMI or MUX or the others which I own as well. Thanks again.

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