Monday, September 11, 2006

Gold now at 592.7 spot

ok....the odds of "catching the falling knife" and documenting it online are somewhere between slim and none.

so, if you weren't monitoring the blog this a.m. :) (yeah right!) fear not. there will be more chances to buy -- more than likely lower than the price in the title of this posting.

the "problem" becomes (for me) whether i take my 4-5% i got in a couple of hours and walk away until the "deadcat bounce" comes back to earth, or i avoid the transaction costs, etc and just sit. better problem to have than the alternative i assure you.

in general, for my entry into the mining shares and the gld this a.m., i would say, "take the 4% in the mining shares" and "let the GLD ride"....simply because while mining sharea offer addition leverage to the price of gold, u are also faced with "company risk" like when one of my holdings "GG" decided to bid for a competitor "GLG" and in my (and the markets') eyes overpay about 10 days ago...arg!

good luck. and, as always, the above does not constitute investment advice...yadi yadi back to your regularly scheduled programming -- north americans finding their way in south america.


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