You may want to watch the Amex Gold Bugs Index, a basket of 16 gold/silver miners. Currently at 281.51. Looks like if you bought on Nov.7, you got a great entry as $HUI (Amex GBI) was at 208 or so on that day. Overhead resistance is at 310ish, a clean break up through there and it’s clear sailing to 350-360. No harm in trading in and out of the gold miners, I don’t think we’re at a point where they will run away to the upside YET. Perhaps later this year.
gold ping
Will do! Thanks for the tip!
Rule of thumb: when the price of an ounce of gold exceeds the Dow Jones Industrial Average, start selling the gold.
I don't think I understand what you're telling me. Gold is $858 or so an ounce right now, but the DJIA is 8149. Do you mean gold ounce X 10? if that's greater than the DJIA, then I should sell?
I'm not understanding something here.