Replies to post #3023 on Mining Sector Ideas

[gfp927z]

Fwiw, I reduced the stock allocation to 3%, from the previous 6%. Some nice gains on the individual stock side, so I decided to grab them before they possibly evaporate. The market has had a good bounce off the bottom, and the current chart looks like it could go either way, but with everything so dependent upon Trump's latest utterances, best to be cautious imo.

This will be a challenging year. I figure some potential strategies would include - 1) buy / hold, 2) actively trade, 3) a little of both. I'll probably go with #3, with a lower 'max allowable' for the stock side of 15% (vrs 20-25% last year). Sounds like a plan anyway.

Right now the S+P 500 (currently 5424) looks like it might inch up to test 5500, which was the March support level that failed 2 weeks ago. So that's the current near term target to watch (5500). Above that is 5600, and then the 50 and 200 MAs near 5700. The question is how high does the current bounce get before the pullback / consolidation arrives? I'm thinking 5500-5600, but just a guess, and will depend upon news flow.



---

[bigworld]

gfp: I just follow the tickers on Treasuries. I own none. Gold hitting a new high. Again. And the miners have been doing great. And average investors are just beginning to test the waters of precious metal investing. Most of the gold price rise over the pat 5 years has been driven by Central Bank accumulation. Once retail investors jump on the bandwagon I may pare down my holding a little. Long term gold and silver are going to be the best place to hold wealth, as long as we have a US Congress that remains oblivious to the destruction that their over spending and running up multi Trillion Dollar deficits every year is causing. It boggles my mind that the members of Congress are so uninformed on economics and are so self serving. They spend, spend, spend to stay in office so they can profit personally. It's disgusting.