Welcome To The Golden Minerals HUB On AGORACOM

Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Hi sinbob,

Fwiw, this is DG's gold commentary from today's letter.... so let's hope Au trades at $840 for at least an hour real soon. LOL!

Finally, we are short of gold... but only very slightly so... having sold into the rally yesterday. As we write, spot gold is trading "into the Box" that marks the 50-62% retracement of the last sharp break. We shall always sell rallies such as these that retrace as classically as this market has. Further, given that the open interest on the COMEX fell on Friday as the market rallied sharply, suggesting that the strength was short covering rather than new buying, we are all the more comfortable with our position. The fact that it engendered a rather good deal of sniggering amongst the "Gold Bug" crowd only serves to strengthen, rather than weaken, our resolve.

Can we be wrong? Might we be selling gold right into the beginning of a long and sustained bull market? Can the "Bugs" be right and we wrong? Yes; yes and Yes. We have no problem acknowledging that fact, but until our stop is taken out ... and that shall be at spot gold trading above $837 for at least an hour or so.... we'll sit tight.
We've no intention of adding to the trade until that which we are initially short proved profitable. We know of no other way to trade [Ed. Note: We are now aware of the fact that there is a "reverse" ETF traded on the NYSE ARCA; ticker symbol DZZ, whose price moves at twice the pace of gold itself. Thus, one can be short of gold by being long of the DZZ. We found the volume to be impressive, and it is far better than trying to sell GLD short.]
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