yeah, I bought too, but not because I wanted to participate in the helicopter rally, which in my humble opinion isn't in any way shape or form sustainable.
You normally short bullshit.
That said, I have been buying because big M&A activity happens at either the top or the bottom of an economic cycle, and in the gold sector, I hardly believe Barrick is buying at the top, they're too damned smart (money talks, bullshit walks) ... so instead of chasing PDG I bought both Bema and Eldorado as surrogates. I figured that Newmont could easily take a run at Eldorado since they both operate in Turkey, as for Bema...? It's extremely liquid, easy mistake to repair. Lot's of new money entering the sector-- odds of a significant up move is very good.
We shall see...
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