Loading ...Good Action In Miners
Seems like the morning’s devastation slowly recovered. I was nervous. In the past, being an idiot, I’d be scared out of my positions and sell everything at the bottom. I’ve learned not to do that and be patient. The miners seemed to have merely back tested, I do hope.
Adding to your point look at both HUI & XAU. They were both UP today despite the smackdown in gold & silver. Of course the main reason is the high weighting in NEM which had a big up day from their earnings report. If the metals and the miners were going to drop much more you wouldn’t have had such positive action. By the end of next week the metals will be moving higher and silver should see $40.
I’m not as hopeful as you, but I’m not as foolish as I once was, and much of that has to do with those like you who are indeed more positive. It gives me just enough encouragement to stop making rash decisions. Newmont is my largest holding because it seems to be one of the safer miners fitting in perfectly with being cautious. I bought it awhile back and added more due to some of the research you’d done and the fact that earnings per share could not go down because gold has never been higher. Seemed so obvious. I remember reading reports of how it was becoming unloved by analysts. It didn’t make sense. Thanks again.
Good job on your part staying long and strong.