hello bear
hello bear
Bear this stock forum goes quiet and then you see a few posts in a couple of days. I am not a gold bug and do not believe it is a good long term investment.
However starting in 2001 and this year have been investing in the sector in small amounts. People were just to bearish on the sector. Gold is at $300 the question is can it go on a run, to $320 and $350. If it can there are many gold companies especially juniors like Kinross, TVX that will have nice runs. If gold stays at $300 or $305 most of these companies will fall back as they will not be profitable at these prices.
use to own Franco Nevada, now part of Newmont mining, looking at Barrick will do covered calls on the position though just to hedge my risk.
Bear I do not think banks are cheap but would not short them in this climate, I think stocks like Citicorp will hold up quite well. There was never any techical recession in Canada and the US and so in my eyes there was none. The economy is in better shape than most people realize, positive GDP numbers and the consumer is still spending.
I agree with you on fuel cells that these stocks may go on a run, they usually do well when oil goes on a run, and if oil hits $30 they should have a nice pop. If they do really well would look at shorting some of the names, only a few of these companies will survive and the technology in most cases is still years off. feel more comfrotable in some oil/gas companies trading at 4X-5X cashflow.
thanks
selkirk
