Loading ...AUY Idea or Something Better
Starting today, I’m slowly buying with each substantial dip, 50 to 80 shares of AUY. Trades are free now, so it makes sense to buy slowly. I got out of metals for the most part and put money into defense, renewables and China stocks like Tencent. I don’t really know what I’m doing, and if I weren’t so busy with work, I’d buy option, puts, calls etc. So, I’m approaching this accumulation as an easy way to take advantage of the inevitable rise in gold. What I’ve noticed is stocks like AUY do very well when gold goes up. AUY is a solid company. It seems overlooked somehow, and every time gold drops, AUY seems to drop to absurdly low levels and rises by multiples when gold goes up, and I miss it every time that happens. Well, no more, gosh darn it. I sell a few of the renewables or defense or China to buy a bit of mainly AUY, then, to a lesser extent, SILV and PAAS. AUY seems especially suited for slowly buying the dips. Is this a strategy, or is it stupid? Any ideas of a better stock than AUY to do this with?
By the way, AUY produces more silver than gold. It also produces copper.
I have been doing a similar thing with SSRM.
That was one I almost picked instead of AUY because it’s been so beaten down. AUY seemed to have better fundamentals. What do you think? Have you compared the two? Another one was HL, but still AUY seemed a better bet.
I’ve been watching a lot of the gold miners & streamers, but they just keep grinding lower. SAND & RGLD look pretty oversold. I hated today’s action, because it confirms that GDX and many other simply backtested their H&S and have turned down. Even SILJ got pounded hard, another fake out break out?