Raw Greed weekend update

Posted on December 10, 2005 , filed under Stocks | Print This Post

Yesterday the market closed with modest gains toward the end of the day’s trading. The gold stocks on my watchlist ended lower as the market rallied. My portfolio was slightly up from yesterdays close. TSM, Taiwan Semiconductor Manufacturing Co. Ltd. and UMC, United Microelectronics Corp. are both down. I may add shares to my UMC position if the stock trades below $3.20 next week. Gold has risen dramatically in the past week. The rise has been so unusually aggressive that we may see a pullback as some investors may take their profits off the table.

If the market rallies next week, this will pose an interesting situation for gold stocks. I expect gold stocks to trade inversely with the market. I decided to wait on purchasing shares in AUY, Yamana Gold, Inc. AUY is a particularly volatile gold mining stock. Less than a week ago the stock was trading under $5 and rose as high as $5.71 on December 7th, 2005. AUY closed yesterday at $5.32. If we see a pullback in gold, I expect to see AUY at low $5’s or even under $5 again.

Add this post to your favorite social networking site

(No Ratings Yet)

Loading ...

Comments

RSS feed | Trackback URI

1 Comment »

Trackback by HYIP Site

2006-05-03 17:35:00

Rags To Riches dot US » High Yeild Investment Programs

[…]19 Yrs Old and made 20k This Month Already!!! What did you make … Investment Programs , HYiP , HYiP Programs , High Yeild Investment Programs , 5 Day Funds , Profits 4 Investing Too | No Comments […]

Reply to this comment