GORO got whacked this morning for cutting its div. Its fundamentals aren’t worse than most gold miners, and not many of them are doing well right now, because gold isn’t doing well right now. (And silver is doing even worse.)
In at 1.02. Now at 1.09. Do your due diligence.
[later]
Got in at 8:15 EST. Now, 3 hours later, I’m up nearly 12% on the trade. That’s not bad work when you can get it. Where I did screw up is in position-sizing. I’ve traded in and out of GORO before. So it’s not as if the stock is new to me, and I shoulda bet bigger.
Oh, well. If Jim Rickards and Doug Casey are right --and I think they are-- the miners will be offering even better money in the months ahead. Rickards does make the point that the miners tend to lag the physical by about six months, and we all know gold/silver have been going nowhere as yet. In fact, they’re down from recent highs. So this isn’t an investment that needs to be rushed into.
Do your due diligence.
