Loading ...WTF was THIS all about ?
It has been close to 3 (THREE) years now since This incredible Bat Out of Hell Move
Remember this ?
Many / Most of us were Out OF The PM markets as the HUI had hiT 100 and looked like SH!T
Then we started up and just kept going.
Some waited for a pullback that never happened
Some chased a little then chased a LOT
Plunger was all in and warning that gentleman’s entry was NOT in the cards
Spock was all in from the exact day this started ( and even in this dead Miner Zone we have been in and even to this day his PF is still soundly positive)
Rambus got bullish there for a while too….Had some great bottoming charts
Surf was on it with the cycles.
Most Goldtent readers and TA posters were blown away and taken by surprise and a new Gold Bull was born
It was an amazing Blast off of the NEW Gold Bull !
By August after a near 200% move in all PM indices and 500 and 700% moves in some individual stocks…we august members of this Gold Forum all knew it was time for a breather…and were willing to hold and watch as the obligatory digestion phase 2 played out.
But something happened on the way to the forum .
SO WHAT THE HELL WAS THAT 2016 HALF 1 ALL ABOUT ?
The Golden Bull turned into the Golden Bull Shit
SHEESH…WHAT A TEASE THIS SEDUCTIVE GOLD STOCK MARKET IS.
That’s the best trade I made last 5 years, it covered all my previous losses, and made profits , still positive.
Hope we don’t go below 2016 bottom, even we go in short time, that is great opportunity, I am thinking. where down side risk is 50%, upside it 1000% for index itself.
TIP mirrored the move in 2016 too but the correlation between the two has since broken down.
https://goldtadise.com/?p=437122
maybe it was…
a gold bug community self generated,self induced,speculative rally.
triggered by spock..
since nobody else joined,it lost its steam
waiting for the next outburst!
Spock has a tiny subset of goldbugs following.
There were 100s of PM cyber analysts just waiting for a move and what a move it was.
Major bottoms rarely look like that (in hindsight) …Mr Market has to destroy all the enthusiasm and wring out the hot money
A Double Bottom seem likely then a slow Sustainabull is what we need
Yes you put it nicely. Good characterization of the market.
Still waiting.!!
to f.g.c
i was just wondering how things work.we are part of a global gold bugs “nation”
say a million strong.an inner circle of believers that watch gold with a magnifying glass.(a bad habit).some times you just need a spark to start a fire.if you run out of wood it dies out.the smart deep pocket investors and institutions need to join
for a sustainable long term move.they do not want to play the p.m game at this stage.
we are just small fish in a very big pond.
just saturday night musings
Possibly WTIC cuts into earnings killing profits? If the gold price doesn’t outperform WTIC how can a HUI rally sustain itself?
What I see in that chart, before the blast-off, was what appeared to be a shs top, similar to another chart I saw on this blog recently, suggesting a down move on that particular entity based on what appeared to be a shs top, which also appeared after a decline and which made me go hmmmmm!
We all know from the textbooks that a shs top should only come after a sustained upmove. It’s almost a Lewis Carroll type situation in that what’s out is in.