copied from CN*X board. posted by Sun M who commented on my post
Everything you said is 100% dead-on accurate. The gold and precious metal market is really no different than the housing market bubble that was popping along 5 years ago. The caveat with gold however is that the continued dim outlook for the world economy will keep driving the market price of gold through the roof. Given that the idiots in D.C. keep printing greenbacks the way Mining companies print stock certificates, I think it is safe to say that gold will continue to increase in value.
What makes mining companies the pariah it has become is the fact that we investors really don't have a clue as to what the hell they are doing with all the cash we have given them. Are they thieves? Or do they have a great secret to tell and are just waiting to have all their ducks in a row before telling us? I don't know...no one does - that is what is so damn frustrating.
Now back to you original point. Could this stock tank tomorrow - of course! I would hope to God that anyone holding this stock (really any stock for the matter) realizes that every penny they have put in the market could disappear tomorrow. If they don't, then they have no business investing in the first place.
So basically what we have here is one big game of poker going on at the moment. The odds here about the same of winning a million bucks in Vegas. Could it happen? Yes. Are the chances great? Not really. I have a modest amount invested here. If it tanks, I am only out a couple hundred bucks. It would suck to lose everything, but it is nothing I could recover from in a short amount of time. However, if this happens to be the odd one in the rough that hits, we could all have a very good new year coming.
My hope is that Eddie will finally get some news out before the holidays so we all know where we stand and hedge as needed.
Just remember, America was born and made on get-rich-quick schemes and having the balls to stick you neck out is what makes legends out of nobodies.
