This continues to be an extremely difficult time for the producers as the rallies have come in short bursts but soon petered out with most stocks gaining nothing this year.
Many forecasters are of the opinion that it is safe to re-enter this market and acquire precious metals mining stocks, this is a stance that we do not agree with and will continue to oppose until we see hard eveidence of a major turnaround. Be prepared for a number of bankruptcies to make the news if and when gold prices take a dive.
We are overweight in cash at the moment with 70% of our funds residing in dollars, 15% are in long positions and the remaining 15% is in short positions. Not very exciting for us but we are really happy to have the cash in readiness for the u-turn in this sector of the market. The time will come when we hit the acquisition trail with some gusto but that time isn't now; patience is the order of the day.
'Time is of the essence' as they say so we are using this period to comb through our list of potential acquisitions and filter out what we consider to be the cream of the crop. Our watch list is rather large but there are no more than 20 companies that we would like to own at the moment and we are refining this list even further and get it down to around 12-15 or so stocks.
If you would like to join us in this venture then we would be delighted to have you on board for what is going to be an exciting although at times 'white knuckle' ride
The following is a gentle reminder of some of the previous points that we have made regarding the 'Stock Trader' service:
We issue a trading signal to you via email as soon as we open or close a trade.
We ask that you go gently with every trade and only risk what you can afford to lose. We will usually allocate about 5% to 10% of our funds to each trade.
The fee for this service is US$199.00 per year; there is no 6 month subscription as we want you to stick with us for 12 months, which will allow us the time to prove our worth to you.
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