Reading Spock’s latest post below I couldn’t agree more. Every expert and paid site proprietor is looking for a deep correction in PMs at this point, warning their readers to get out and buy back at much lower prices. Cycles guys, EW people, you name out….they all are uber bearish here. The skepticism and bearish sentiment in the metals sector coupled with the dollar collapse will likely leave many in the dust. We had a classic false breakdown reversal and now move above key DT and resistance levels with very healthy underlying technicals across the complex. Same applies to energy as well. It looks and feels so risky to buy in now that people will just sit on the sidelines and wait for the ideal entry….which of course will never come….someday they will start to chase….and then I will begin thinking about selling.

Take a look at SAND and explain how this stock has topped out. I’ve been in it since the mid-$2s and don’t plan an exit anytime soon. This is a reversal and not a top as prices moved out of the DT and above a significant pivot. There will be disbelief for months to come so just let the charts guide you and not your “feelings”.

SAND