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I’ve posted this before (weeks/months ago). It’s working out well so far, and becoming clearer as we go along. This next bit will be fun, but remember to be mentally prepared for a 30%+ correction, and possibly many months of consolidation. The move after that will also be fun, and a good chance to exit and re-enter at more attractive prices. In a PM bull I rarely exit altogether, but this could be one such opportunity (along with the 8 year cycle low). Timing is everything of course.
Hi Northstar. I don’t intend to wait through a 33% correction because I end up selling on the way down and lose. I’m looking forward to some kind of close exit, even if it means giving up 10%, or a bit more. I know even an expert like you can’t predict to near certainty on stuff like that, but if it’s even reasonably close, I’ll be forever in your debt. Thank you for being so right for so long. You have an amazing mind.
That sounds horrific Marcus. I’ll do my best to give an indication when to turn ‘defensive’.
If there is a gold price reset around 2022, that would coincide with the low. It would also mean the high could happen with no notice.
I pay for an extremely expensive sentiment service which will give me a good idea when to exit. I post when I exit.
Thanks Noman!
Thanks be to you Noman and Northstar. I’ve been breaking even or worse for as long as I can remember.
That’s a shame Marcus – the miners are up over 100% since the low. I’m guessing you somehow sold low and bought high…
Thank you Norman – There should only be 2 major points to exit – after this run, and just before we begin the drop into the 8 year cycle low.
I was up 160% last year. Certainly a huge outlier. I caught and kept some of that June July August run. You typically get at least one of those a year and then most get chewed up in the months that follow the run. In this case I have been waiting since Sep 05 of last year for the next run of this gold bull market. Sure looks to me that this is day three of the next run. Will it last three months like last years segment? Clueless. It might be longer. Six -seven months. No one knows.
I don’t usually trade individual stocks. I have a 5% option position in AUY calls. Otherwise I’m in JNUG or JDST. I can get in and out seamlessly in size. Market orders, no slippage. If I try and trade SILJ it is not seamless. If I put in a market order the MM kills me. If I put in a limit order at bid or even under the MM just drops bid or makes me the bid. I am in SILJ but not for trading.
Great chart NS, thanks all. Noman, what is the stock sentiment service you subscribe to?
Jake Bernstein Daily Sentiment Index
Sorry for late reply. Trading!
No worries, thank you.
Yes. I got a conservative measured move to 405$. I stopped short quarterly defined resistance. Could have a wick through it on smaller time frames before important correction.