I Can’t Help Myself

Posted by on May 17, 2016 - 8:32 am

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Lord knows I tried!!!!!!

But after multiple decades of being a “player” in the metals and mining industry and making and losing millions in it more than once, I find myself “personally” engrossed in it again from an investment/speculation standpoint (In no way shape or form ever working within the industry again).

The fact that a very large sum of money has been recently freed up from what was my largest equity position ever , combined with what looks like a near “perfect storm” of bullish fundamentals, has pulled me back in deep enough to note two things:

1 – My entire equity portfolio currently only holds two stocks – Nevsun Resources and Teranga Gold. This is not a recommendation to buy but just full disclosure.

2 – The technical picture for gold strongly suggests a break out above $1,300 looks like when, not if.

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After bottoming at point A, gold has seen massive accumulation and has been making a series of higher lows (Point B) despite the usual selling attacks that come out of thin air. As noted yesterday, these sellers can no longer keep gold down for any real length of time.

Very few investors have a track record worthy to pay heed to so when I read where George Soros is on gold now, I felt it needed to be noted.

Posted in: Matters of Finance, News
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