Mining Stocks

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I have dabbled in the stock market off and on for over 30 years, but saw very little in profits, and would have family emergiencies every time I had as much as 10-15 thousand in my portfoilio, so never accumulated much. I tried a few mutual funds and made a little money in them, especially Legg Mason's Value Trust, but that probably had more to do with when I lucked into it than any investing smarts on my part. A neighbor was a broker with them and introduced me to the fund, managed by Bill Miller, who had an excellent reputation as an astute picker. But about 10 years ago, I became intrigued with gold and uranium, and began to invest in small mining stocks. Mining stocks had been beaten to death for about 16-18 years, and so were really cheap, and some people who knew what they were talking about were saying "it's time to back up the truck." I began to nibble, but really didn't become a believer until about 2003. That's when I started getting serious about this sector. Since 1999, I have seen $10,000 grow into over $136,000---most of that gain since 2003. I have learned that for me, investing doesn't work. I've become a trader and a speculator. At least for this point in history. Primarily mining stocks, especially uranium and gold in that order, but if I didn't have so many good uranium plays doing so well for me, I would be putting more into silver stocks. The people I have faith in are saying that silver should do even better than gold over the next few years. But for me uranium, is as close to a sure thing as I ever expect to find. The big profits I've made have been on the risky stuff. Penny exploration stocks that struck pay dirt. One went up over 40 times. Several went up 5 to 10 times. Risky, but if you read a couple of the good analysts for these stocks you can do very well---at least in a metals bull market like we have seen since about 2000. The easy money has been made, but there are still lots of promising opportunites. Just be careful. There are a lot of folks writing stuff who apparently make a few lucky guesses, and then act like they know it all. The one's who brag the most, are usually the worst ones to listen to. And never buy on a tip from one of those guys who sends out an "infomercial" stock tip. He's paid to write it. I've lost about $20,000 on a half dozen of such tips(I think I've finally learned my lesson). Compare this to perhaps $3000 lost on investments in stocks recommended by reliable sources. And measure that $3000 against over $100,000 in gains. Be careful, but the bull market is now on for uranium and precious metals, and its a trend which will last for years---Uranium for perhap 20 years or more. The only thing that will stop the surging uranium demand will be the discoveery of a better source of energy. Who knows, maybe they will tap into cold fusion some day. Next I plan to learn about currencies, options and futures---possibly short selling in selected sectors and stocks. Anybody got any suggestions?