Grass Ranger

Mines' Eyes Have Not Seen The Glory

Good advice for someone who is not now in the gold market but is thinking about taking a position. A lower risk position would be to buy GDX, the miners ETF based on the Amex Gold Miners Index. You won't hit a home run with it like buying Seabridge in 2003 but it won't be a Bre-X or a dot.com either. Because the gold bull market likely has a few years to run, I am buying GDX 100 shares at a time each time it pulls back 5 to 10%. This has worked well since it was at $34. When gold hits 1600, I'll start thinking about selling some at certain percentage point increases from there. Regarding the rest of the economy and financial system, good luck to us all. We are going to need it.