I do believe in the long term miners bull case, I just think we got a bit ahead of ourselves here. If people are holding for years to come than it will will just be another opportunity to add.
Tomorrow morning we have inflation numbers that will probably dictate which way this goes for the next few weeks.
Thats not a correction …thats a disaster.
Unacceptable …and unlikely
More likely we are in a Consolidation Flag / Running Correction IMHO
http://schrts.co/VqcpPaBc
It would be about 50% FIB retrace, I dont see how it’s a huge deal after 100%+ run up.
ITS A HUGE DEAL IF YOU ARE ALL IN MINERS.
25% DROP = all recent profits GONE for most
Also would negate the multi year breakout…Very STRONG support at circa 31
http://schrts.co/nWGXwYaw
I do believe in the long term miners bull case, I just think we got a bit ahead of ourselves here. If people are holding for years to come than it will will just be another opportunity to add.
Tomorrow morning we have inflation numbers that will probably dictate which way this goes for the next few weeks.
Roger that Danx
my view is you can just discount that hard drop and start the “rally from the breakout.
So rather than saying we are up over 100% one could say we are up maybe 20%
As always we shall see
31 on GDX should be STRONG support, if it breaks hard (weekly) we could be screwed.
You mean the official inflation numbers that don’t include food, housing or fuel. I love those inflation numbers 🙂