Dec

17

Bought CGLD

December 17, 2007 | 1 Comment

This afternoon I decided to buy a sizable position in CGLD just before the close at $0.65. All of the gold miners got hammered today and nobody seemed to notice that gold didn’t really go down at all despite the dollar bounce (the second time we’ve seen a bit of decoupling). This looked like an interesting trade ahead of earnings and continues to be interesting from a valuation standpoint at these levels. At first glance, earnings after […]

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Dec

6

Major changes to the portfolio

December 6, 2007 | 2 Comments

I made some major changes to the portfolio today, so I’m just going to go down the list.

Sold:

CGLD.OB–I sold my entire position over the last two days at an average price of 72 cents. I had been bullish on the stock up to now, but the company’s December 3rd filing with the SEC for a sale of 58 million shares (mostly from insiders and large holders) came as a big surprise. I can sit there and justify the […]

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Nov

9

Added a bit to CGLD at $0.73

November 9, 2007 | Leave a Comment

I know that I said earlier that gold stocks still needed to come in a bit more before buying, but in the case of CGLD, the valuation is so compelling that I decided to add modestly to the position at $0.73. I am about halfway done with my writeup on the stock and that should be coming down the pipe early next week, but I encourage those looking for a gold stock to take a hard look at CGLD. […]

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