My stocks,
U.S. Gold Corp. announced today that it will be traded on AMEX. The propable date of the open on the American Stock Exchange will be Dec. 11. This is great news for share holders.
I would like to make a brief statement about the stocks on the ticker. Those are stocks/etfs that I own. I am a college student, on a college budget. Every spare penny I have is invested. I also own physical silver and gold bullion.
GLD, streettracks gold trust, is a gold etf. It is approximately the equivalant of owning 1/10 of an ounce of gold. A lot of people are against holding "paper gold." In my case it is very expensive to buy ounces of the yellow metal, so I am left with the etf as an option. I do believe, when shit hits the fan, that you don't want anything to do with "paper gold." I plan to use it as a trading tool and riding the waves as the come and go over the next year. After reading a lot of charts and data I plan to ride the etf until gold hits around 850-870 U.S. dollars. At this point i feel that it will drop somewhere between 5-7%. I will sell at, what I believe to be its first peak, and get back in at around 730. There will be some ups and down on golds rise to greatness. By just holding one can accumulate substantial wealth in the next 10-15 years. I plan to try and maxamize my profits and play the market. We will see how it all goes, and I will keep you updated. Expect to see some great action in the precious metals market the first half of 2007 when the coming recession becomes official.
Friday, December 8, 2006
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