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Tag Archives: BGO

WE'RE OUT OF GOLD

Our stop was triggered this morning on Newmont Mining (NYSE: NEM). Accordingly, per Friday’s Hotline, we closed out NEM at $45 for a gain of 7.5% in a little over two months. As noted on the Hotline, we were also stopped out of Bema Gold (ASE: BGO) for a 3% gain. The official exit date was March 29. My apologies for any previous confusion about our BGO stop price. The correct figure (the first one given here on the Web site) was $3.40.

WE’RE OUT OF GOLD

Our stop was triggered this morning on Newmont Mining (NYSE: NEM). Accordingly, per Friday’s Hotline, we closed out NEM at $45 for a gain of 7.5% in a little over two months. As noted on the Hotline, we were also stopped out of Bema Gold (ASE: BGO) for a 3% gain. The official exit date was March 29. My apologies for any previous confusion about our BGO stop price. The correct figure (the first one given here on the Web site) was $3.40.

THE GOLD SITUATION

Gold is popping this morning, back up to the vicinity of last Friday’s highs. So it’s a good time to review where we’ve come from, and where we’re likely to go.

TAKING ITS OWN SWEET TIME

As usual, the stock market is doing things on its own schedule — not ours or anybody else’s. But it sure looks as if a marvelous bottom is shaping up. Yesterday’s panicky selloff had the earmarks of an exhaustion move. Downside share volume on the NYSE outnumbered upside volume by a whopping 11:1 margin. That’s the kind of reading you normally see at, or in the neighborhood of, a major low.

RUNAWAY DOLLAR?

Wall Street is humming with speculation that the dollar has finally pulled out of its two-year slide. Even mainstream stock traders, who normally ignore the greenback’s gyrations, are trying to figure out what a reversal (to the upside) in the dollar’s fortunes might mean.

THE GOLDEN WHOOSH

Here it comes! If you’ve got a speculative nerve in your body, you really should take a close look at what’s going on in the gold sector.

The Midas metal (and its allied mining shares) are in a picture-perfect long-term bull market dating back to 1999 for bullion and 2000 for the shares. Like any healthy bull market, this one has been punctuated by occasional sharp pullbacks. The most recent of these “corrections” appears to have ended last week.