Gold stocks: take some profits
Monday, September 24, 2007 at 02:30PM
Gold Prices in Gold, Gold Mining Companies
Today we decided to take some profits off the table as both gold and the HUI are in the sell zone in our opinion.

We have sold 50% of Kinross, Yamana and Fronteer.

We are anticipating a small correction in the short term before we buy stocks again. We are small enough to trade quickly and have sold these gold stocks in anticipation of them dropping a little in price, thus allowing us to go back and buy them at slightly lower levels. We remain absolute gold bulls with all of our cash being invested in the precious metals sector so I wish to repeat that this is a short-term trade only.

Take care.

For the record:
Kinross Gold (KGC) was sold for an average price of $15.36
Yamana Gold (AUY) was sold for an average price of $12.40
Fronteer (FRG) was sold for an average price of $10.44
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