Yamana Gold, Northgate Minerals Still Flying

Yamana Gold (AUY - $8.34 + .36) and Northgate Minerals (NXG - $1.33 +.12) continued their winning ways today tacking on another nice 4.5% and 10% respectively for their shareholder.

Although both companies have seen their stock price nearly double from our first blogs in my opinion both of these companies will continue to do well as the recession continues to deepen. (Read our original blogs about these companies here : ( Yamana Gold Blog , Northgate Minerals Blog )

We think the economy will continue to weaken for the foreseeable future and believe the overall markets will suffer as a result. ( See our DOW 6500 Projection ) It is in time of uncertainty that gold has always performed at its best and we see no reason this will not hold true this time around.

Does an investor think about taking profits here? Of course this has to be part of any good investment strategy. And we certainly are not qualified to make any suggestions. Our only thought is that these companies are showing no signs of retracing and the economy is showing no signs of improving. So what is good now might just be good for awhile.

2oversold.com is a blog for the individual consumer and private investor. We are not experts in the markets nor do we make any recommendations of any company. The companies we blog about are discussed for the purpose of this blog only and this should not be considered as investment advice.