Feedback:
I have not been here for some time as I have been posting on another site as it is more active there.
I am not ashamed to say that the past 2 trading sessions was very intense as I did see large falls appearing on my screen from some NCM stock I held onto after the recent trade. I gave back the $1 gain from 25.50 to 26.50 I had successfully made.
I apologise I made it sound easy in my previous posts, as I can tell you, in practise, that it was not easy to do. I should have written, “Buy only the amount of stock that suits your individual risk, pain and fear threshold/profile”. Making money on the stock market involves a different kind of effort and that involves a unique kind of pain. A bounce or uptrend is usually preceded with a gap down or large price action that causes pain.
I am happy to say however, that I did not fold under the pressure and did follow through with what I said in my posts. I think the potential $24 target I calculated and mentioned in my previous posts helped me as it made me prepared.
Gold price is a complex thing. More recent falls in NCM is now not to do with NCM’s recent production downgrade. NCM is now under the effects of global forces and mechanisms. Other large gold producers in the US have also been declining just as NCM has. So it is gold in general. For the benefit of those who may not be familiar and as I posted elsewhere,
1. Investors are moving their money to US dollars as a safe haven and not to gold, against recent European uncertainty and driving up the US dollar. Since gold is sold in US currency, it makes gold more expensive to buy for people using other weaker currencies. A strong US dollar causes the gold price to fall.
2. Investors selling gold and other stocks and going to cash.
3. In recent times, investors not as hopeful on QE3 (as before) and other stimulation action by governments that causes inflation and which gold is used to hedge against.
and,
4. Some investors are starting to think that the decade long gold rally is coming to an end.
and believe it or not,
5. Warren Buffet told his followers on the weekend how he was not a fan of gold and that it is a poor investment. Warren Buffet has never liked gold and has always made his view on gold clear. Even in 1999 when gold was 270US/ounce. Warren was clearly wrong in not believing in gold at that price.
NCM's recent production downgrade has now been lost in all the above. Gold's future, world gold stocks in general and NCM's share price is going to be governed by the forces above and for how long these forces or sentiment lasts.
Notice that all 4 mechanisms can change overnight.
This post is my opinion only. Buy only the amount of stock that suits your individual risk, pain and fear threshold/profile.
I have not been here for some time as I have been posting on another site as it is more active there.
I am not ashamed to say that the past 2 trading sessions was very intense as I did see large falls appearing on my screen from some NCM stock I held onto after the recent trade. I gave back the $1 gain from 25.50 to 26.50 I had successfully made.
I apologise I made it sound easy in my previous posts, as I can tell you, in practise, that it was not easy to do. I should have written, “Buy only the amount of stock that suits your individual risk, pain and fear threshold/profile”. Making money on the stock market involves a different kind of effort and that involves a unique kind of pain. A bounce or uptrend is usually preceded with a gap down or large price action that causes pain.
I am happy to say however, that I did not fold under the pressure and did follow through with what I said in my posts. I think the potential $24 target I calculated and mentioned in my previous posts helped me as it made me prepared.
Gold price is a complex thing. More recent falls in NCM is now not to do with NCM’s recent production downgrade. NCM is now under the effects of global forces and mechanisms. Other large gold producers in the US have also been declining just as NCM has. So it is gold in general. For the benefit of those who may not be familiar and as I posted elsewhere,
1. Investors are moving their money to US dollars as a safe haven and not to gold, against recent European uncertainty and driving up the US dollar. Since gold is sold in US currency, it makes gold more expensive to buy for people using other weaker currencies. A strong US dollar causes the gold price to fall.
2. Investors selling gold and other stocks and going to cash.
3. In recent times, investors not as hopeful on QE3 (as before) and other stimulation action by governments that causes inflation and which gold is used to hedge against.
and,
4. Some investors are starting to think that the decade long gold rally is coming to an end.
and believe it or not,
5. Warren Buffet told his followers on the weekend how he was not a fan of gold and that it is a poor investment. Warren Buffet has never liked gold and has always made his view on gold clear. Even in 1999 when gold was 270US/ounce. Warren was clearly wrong in not believing in gold at that price.
NCM's recent production downgrade has now been lost in all the above. Gold's future, world gold stocks in general and NCM's share price is going to be governed by the forces above and for how long these forces or sentiment lasts.
Notice that all 4 mechanisms can change overnight.
This post is my opinion only. Buy only the amount of stock that suits your individual risk, pain and fear threshold/profile.
