Ended all my +10 Gold Miner picks today
February 27, 2008
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RELATED TICKERS: GBN
, VGZ
, KGC
I did this partly to offset my big negative scores that I am suffering on the underperform calls on home-builder stocks that are killing my overall CAPS score!
Reasons: There seems to be a positive technical trend that I suspect is related to the continued decline of the dollar. At some point soon I believe that the price of gold will retreat and the trend will reverse, or at least pull back a bit and then I will add them back to my CAPS portfolio. Also, I think some of the stocks are over-bought due to the general feeling that gold is a good investment in the current economy, so a pullback is due.
In real life I am still long on UXG and CEF, which I am also still holding in CAPS.
What do you think - am I making a mistake, or does this sound like a good strategy from the perspective of "playing the game" in CAPS? (Not trying to predict the market for personal gain - only for CAPS points.)
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