nspolar...
BGO is doing ok so far, and the gold stocks are most certainly outperforming the metal itself - I was shocked this afternoon when GG hit 12.45 (a new high for this move) late this afternoon on two very large blocks. Obviously, the stocks are anticipating that the $USD will take some gas when AG cuts next week and from the continued printing of ever more bucks by Greenspan.
The flip side of that is that da boyz definitely took a shot and drove gold down and the dollar up, and it continues again tonight with a solid ramp on the $USD and gold off a bit more. There is only so much of that that the gold stocks can take, so there is certainly some risk near term for a pullback unless the $USD can reverse into the FOMC meeting, which is what I would have expected.
As for the SA golds, I have no problem buying them for a trade, but they will not be a part of my core gold holdings because of the political risk. That does not mean I will be correct, it just means I am not willing to assume the additional risk. History tells me that white owned businesses in Africa eventually end up under new ownership, and the old owners do not fare well in the transition. I did quite well with DROOY, HMY, and GFI before the political problem arose, so I do not feel bad about leaving them alone now.
Good luck to you - hope your DROOY and the others do great.
mlsoft
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