Yep, my little mix of warrants & stocks gained almost $15,000 today while Jackie & I were watching "The Color Purple" at the Canon Theatre in downtown Toronto. The biggest bump up was in GoldCorp Wts. up a neat 24.3% today while Kinross Wts. gained a not too shabby 15.6%. My portfolio is now up 10.7% from my starting Feb. 5th benchmark measure and that beats the TTGD Index, up 5.1% and SPDR Gold Trust, up 1.9% and Gold Futures (April), up 3.2%. This makes me feel good about my selection and approach.
Goldcorp Wts. are very close to a reasonable short term (ST) selling target and I might let them go tomorrow. What a trade that would be since I purchased them on Jan 14th for $6.25 and would sell them between $11-$12. My other holdings are well below fair market value as caculated on the Canadian Stock Warrants website.
It blows my mind to think that in the past 5 days (since my benchmark Feb. 5th, 2009) 67.9 Tonnes of gold have been purchased into the SPDR Gold Trust, that's 1,571,952 ozs !
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Terrific! Good for you and yours. I did have a couple of offers in, and one kicked off Friday. SQM just added a percent or two in value, but in a down day it is much better than down. On the other hand, AUY did not quite make it to my buy price, and it only closed down 2.3% at US $8.99.
ReplyDeleteI don't have a lot of confidence in the long-term price of gold, but I can surely understand optimism about the weeks immediately in front of us. If on Wednesday SPDR Gold Trust was up 1.9% from Feb 5 close of $90.12, it looks like it is now up to $92.55, a total of 2.7%, again, great to have when the S&P 500 is challenged.
If you have a gold-related stock that is performing well now, the question becomes "When to sell?"
I fully expect US markets to be up at the open Tuesday. Investors are pretty excited about all the bargains out there.
ReplyDeleteIt's easy to overpay. Last time I bought AUY (March 20, 2008) I paid $16 for it. GLD was a little lower then than it is now, at $90, but not much. I'll make my final AUY day offer price decision during premarket.