Open Question
I have a bunch of shares of AUY (Yamana Gold) that I have an average cost of
about $16.50/share for. Should I sell at a loss now, or will this stock rebound
in the change of cycles, even though the Cramer chart says to sell gold?
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I took position of AUY at about 12.6 and it's up around 15 now, so I guess I'm
lucky. I agree that its good to have 5-10% of portfolio in gold. And I think AUY
can go up to 18 or more. I wouldn't sell yet, because I think you might regret
taking a loss when you could have a gain.
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I agree that gold (at times) is an important part of your portfolio. But I
eschew miners. I always buy the commodity (GLD)
Answered by Peter on Post Street
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I would not sell here, there is interim support for gold and the demand end of
it will keep prices high even if the dollar increases in value.
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you should always keep some....it's the hedge position against fear in the rest
of the market....and you never know when fear will return.
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