I sold my shares in Barrick Gold Corp. (ABX) today at $48.55 per share. I held it for 3 months for a 20 percent gain. Barrick went up 16 percent in the last 2 days and I decided to take my profits. Gold is at a 28 year high but I think it could keep going up but figure there will be some wild swings up and down. I might be selling to early but I still have a position in Anglo (AAUK) which is not a pure gold play, it also mines Diamonds. Nobody ever went broke taking a profit.
I talked about Preferred stocks in my year end review and they have gone up from 3 to 7 percent a day for the last two days. I think the belief that the Federal Reserve will keep lowering interest rates throughout the year has woken up many investors as to just how cheap many preferred stocks have gotten. With 7 to 8 percent dividends they are going to look pretty good if rates do go down.
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