Tuesday, April 24, 2012

As Mr. Buffett Says...

When there's blood in the streets, pull yourself up by your boot straps and buy.  So it goes with gold mining stocks these days.  I read nothing but whining and disbelief from gold bulls on one side, and smug satisfaction from gold bears on the other, when it comes to the performance of this sector.  It's beginning to smell of capitulation.  And I'm prepared to take the contrarian tact.  The vehicle: Jan '13 and Jan '14 $15 calls for AUY.  I've been wrong before, and it could happen again, but I'm going to ride this one for a while and see what happens.
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