Club Mulgoa

Monday, March 05, 2012

ASX plunged... China sneezed

As each year goes by, we are becoming more a Chinese puppy.

In the midst of the plunge, POG is still over USD$1700 per oz and AUD has fallen below USD$1.07. I put low bids to buy for many stocks this AM and recently. Today, I collected all my DRA at $1.07 and GOR at 34.5c.

Will I regret? I think the market will fall further as the Greeks will still default. The Chinese government has spoken. But while POG is still just over USD$1700 per oz, I am still happy with gold stocks. The worst sector in my portfolio was gold. But you wonder why it got swept up in the sentiment. Tomorrow, if the POG holds, then my worse than average fall will hopefully recover.

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