Seeking Alpha

InvestBaboo's  Instablog

InvestBaboo
Send Message
Casual investor with a flair for investing.
  • Yes, Gold is a Buy now! 1 comment
    May 5, 2009 9:40 AM | about stocks: GLD, GDX, EGO

    To those readers that may have read some of my negative posts on Gold they would remember that I always said that I would buy into Gold and Gold mining equities the day that I see a Buy registered on their charts. My argument has been that why get into Gold and suffer downward losses or a stagnant situation (as has been the case) while you could wait for the charts to show a buy and then get in and enjoy the upward momentum! Sure, you may miss the first 50 or 100 bucks in the appreciation process but if the Gold bulls are right we are going up several hundred % right? :-) What is 50 or 100 bucks when we are looking at several hundred dollar gain?

    I have opened small positions in EGO (El Dorado Gold) and GDX (Gold Miners ETF).

    Stocks: GLD, GDX, EGO
Back To InvestBaboo's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
  • InvestBaboo
    , contributor
    Comments (229) | Send Message
     
    Author’s reply » Add ABX (Barrick Gold) to the list. I was quite surprised to see so many Gold stocks pop Buy signals so suddenly and across the board. What is going on? One plausible theory is that the market now really believes in recovery and that recovery may be accompanied by inflation! We all know Gold is #1 hedge against inflation.
    6 May 2009, 09:07 AM Reply Like
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.