No….we are only here:

Note the source. Thanks Jordon!

Speculator: Someone who observes the future, and acts before it occurs.

What we can observe from history, back to 1942, is a potential marathon in this sector lies ahead. Not a sprint. I expect this bull cycle in the gold and silver rocks may peak around 2023, 8 years from the bear market lows in January 2016, when I started buying at SpockM. https://spockm.com/

The Miner Matrix is UP 260% and just getting started.

If this is going to be the duration, we are less than 18 months into an 8 year bull market, or only about 10% into the event.

But already folks are nervous and bearishly bullish, or other combinations thereof, with uncertainty prevailing. Clearly, most will not finish this marathon mentally intact. The daily and intra-day moves, posted here at the tent, are interesting from an academic perspective, but somewhat irrelevant, in the big scheme of things.

Unfortunately for most, its a quick gratification mindset, with instantaneous connections to markets from any part of the globe. In this sector, from the lows, its the sitters who will make the most of what lies ahead. The remainder may not make a dime out of it, despite a lot of mental energy and angst, put into the exercise.

Another interesting observation is a bifurcated market is developing in the juniors. On the one hand we have the “GDXJ juniors” sector and the “non-GDXJ juniors” sector. This is a positive development, as Van Eck effectively moves out of the junior sector, by default.