Loading ...I have pared back considerably this year.
Don’t have much in the shares anyway.
Most PM shares have already taken a beating, so losses should be muted measured against the yardsticks from here, but there’s still some room to fall as market participants (gold bugs) have remained stupid stuck in their optimism given what has been said here today.
Most don’t think in these terms. They only see gold stocks as leveraged proxies for the metals and are as greedy as the most crazed tech turd and think there’s a new bull market around every corner. (Some even think they have the moral high ground.)
They are about to get a lesson they forgot about from 2008.
Can you sell now?
You can probably scale out a bit depending on the stock.
But you probably still want to hold a smallish core of good large to mids as the metal prices should not fall much from here with solvency risk for a large swath of the banks through the roof (you don’t see it in credit spreads yet because of the rig).
The juniors could get killed from here.
Don’t know what to say about them except – good luck.
Hope they hit the mother load.
They will need it.