Richard Shinnick

Getting Out of Leveraged Gold

$1,000 is the emotional pivot point. A little past that and either you are in for real or your are out for real. Until then, it is just a "will we, won't we" tug of war, and a great trading game.

Going For Gold With Yamana

I too own Yamana. The stock has been volatile and any mis-step on costs might really hurt. If you are sitting on big gains here, maybe selling covered calls ($20) would be the way to hedge out some risk and still get some upside? I just never trust these rapid run ups even if the fundamentals go well. Last summer Yamana got crushed and the explanation was "hedge funds selling their winners to cover margin calls on their losers." Just remember, sometimes Yamana can behave like a stock rather than a gold miner, but I do like it.