I’ve been scouring the web looking for anyone who is bullish on miners right now. Not many. Krystar and Gabe are the only bulls on this site at this moment I think. It seems all markets only react to Fed-speak these days so we will have to wait for the next Fed clown to open their mouth for further direction. I think we bottomed last week, judging by how my miners were trading today. Most were down with very light volume, compared to last weeks selloff, and a few were sandbagged at the close when the bids disappeared. We are entering a period of seasonal strength for gold and silver, so I think at worst we will keep consolidating for the next few months. Most are calling for $20 – $22 GDX before we move up again. Great minds think alike? or Fools seldom differ?
I’ve been scouring the web looking for anyone who is bullish on miners right now. Not many. Krystar and Gabe are the only bulls on this site at this moment I think. It seems all markets only react to Fed-speak these days so we will have to wait for the next Fed clown to open their mouth for further direction. I think we bottomed last week, judging by how my miners were trading today. Most were down with very light volume, compared to last weeks selloff, and a few were sandbagged at the close when the bids disappeared. We are entering a period of seasonal strength for gold and silver, so I think at worst we will keep consolidating for the next few months. Most are calling for $20 – $22 GDX before we move up again. Great minds think alike? or Fools seldom differ?