I'm in the process of filling a 3.6x "standard" order of NXG, at $4.05/share. The order is more than half executed, so I'm mentioning it now.
I'm not totally sure about this. There are a lot of things to consider:
1) There's a Fed meeting in early September. I think QE3 or some other type of stimulant is going to be announced.
2) Gold is close to $1,850/oz - near which point I expect some selling. $1,650/oz still looks like it needs to be tested.
3) The Dow is likely to pull back as well.
But the decider for me is:
4) NXG is $4.05/share and will be converted into .365 shares of AUQ. .365 of AUQ is worth $4.24 right now. So how do I sit idly by and ignore such easy money???
There's even a 5th argument) Maybe someone else will initiate a bidding war for NXG. No reason to expect that, but it COULD happen. There was just an article saying that AuRico was getting an incredible bargain...
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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