Re: Link to Updated Charts on Gold, Currencies, Various Indexes, etc.
posted on
Jan 25, 2008 10:33AM
VIT is a core long term position. I have always used periods of weakness to add to my core position which I have been accumulating since 2004. Personally, I don't use periods of strength to take partial profits on this company, although I may mention on a chart that TRADERS may want to consider taking partial profit. The bottom line is that I feel the upside potential is considerable more than the downside for VIT, and I also believe that junior gold stocks are no where near the higher levels I expect them to trade at in the future. Outside of VIT, I maintain core positions in other stocks, but I DO take partial profits at the top of power up trends or the top of upward sloaping trend lines, and add back to those core holdings when the prices have droped back to the bottom of their trend lines or Fib supports. If you are familiar with Jim Sinclair, you will know that this is the strategy he has taught to thousands of precious metal investors. In summary, I don't trade VIT stock personally, and I only add into weakness. I do maitain core holdings in other gold stocks, but I do trade a portion of those positions. Some stocks I simply trade and have no intentions of maintaing a core position.