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@ ALL THOSE WHO ARE WAITING FOR A PULLBACK TO GET ON BOARD THE GOLD TRAIN
So far this move in PM Stocks is very similar to 2016
That move began at the beginning of the year and lasted 7 months…basically STRAIGHT UP !
This move began at the beginning of June …..7 months will be year end !
To chase or not to chase….that is the question.
What would that look like on the weekly chart ?
Don’t chase IMHO.
So I SHOULD keep holding my breath?!
The one BIG thing that is at least different this time is that in ’16, Plunger was doubtful, now he’s not.
But, as we all know, when you fight reality, you only lose 100% of the time…..
I am on the train for the intermediate to long term and comfortable in my seat for the next several stations at least.
As for the present, I am confused and uncertain. It does not feel at all like early 2016 to me. I do not know all the reasons for my feelings. However I can point to a couple of things that would give me at least momentary misgivings. Over at least the past several trading days or more when I look at my long lists of companies I follow I see lots of red. There’s lots of disparity in the way the stocks of the different companies, big and small, trade. A given company’s stock may tend to trade in a jerky up/down fashion. It’s not an orderly up. Perhaps the market is digesting for a big follow-up move. Perhaps it’s going to back down. Also, the uncertainty of the markets at large and the world in general makes for uncertainty. If other markets fall apart, people who are relying on their FNV, RGLD, or KL may end up having to sell in a panic to pay for expenses or for margin calls. But all things PM might just blast on up. To repeat, I feel confused and uncertain for the short term. I am on edge and feel I’m wrong no matter what.
Went to a super douche restaurant in a trendy part of Toronto (Yorkville) – everyone there was talking about weed stocks and averaging down because they believe in it – all I heard was people talking about bitcoin and weed – when I mentioned gold and it braking out into alot of major currencies people thought I was stupid person and I just gave me a weird look – keep hold your miners !!
Bitcoin and Pot…thats the ticket
Gold is for Dinosaurs
🙂
I am “almost” convinced a harsh correction/pullback is at hand. Like Karl, my basket of miners has gone from consistent to spotty, showing off a bunch of red this last week. And not a lot of rhyme nor reason why some and not others. THAT alone makes me question…plus some pretty solid TA AND fundamental guys are calling for pullback. Which I have to say would be healthy for the bull.
So, as always, what to do? Gonna unload the spec stuff, keep the core, and wait. If this is the bull we all believe it is, profit making opportunities will abound for years. At this juncture, it appears risk outweighs reward in the very short term.
Actually I still own lots of spec stuff. Over the past year I slowly got out of the worst stuff, sold a couple of non PM stocks and replaced with with small producers / small royalty (which most investors would see as crazy-spec) but I also bought more of selected explorer0developers, especially ones that I already knew, ones that had healthier charts and seemed to have decent fundamentals, including gambles a couple that are nearly unknown. So I am still on the crazy spec train. It’s just that I don’t feel confident at all about the next month or two.
Maybe it’s just a week or two of consolidation?
Good to be cautious guys
But thats what kept so many Gold PEOPLE on the sidelined in 2016…..I am sure 2 months into that move there was much doubt and fear and consternation as well
I remember hedging my stuff periodically and losing big on the hedges every time!
Good luck all.
No comparison until now with 2016.
Back then miners were wild and outperformed gold GREATLY,now miners are up just a fraction of their potential.
Let’s hope this will change,but I really I don’t know what to do,I’m confused and uncertain as well as Karl 🙁
Is anybody looking at this chart ?
2016 and 2019 same thing so far.
I like that weekly chart look , Fully. But I am a bit of an optimist. 🙂
Fully,the chart is almost identical,but the behavior of gold related to miners is very different,miners outperformed back then,not now.
Yes similar charts, but I think this market is less of an aggressive short squeeze. I like it! Its more tradable now. Meaning its possible to find buying opportunities. I also think we are going thru a jr correction right now. Dont blink, it will be over soon.