Loading ...Breakouts
This is the final part of act 1. The return to the 2011 highs for gold. This breakout was led by the miners (they broke out a while back). Gold and silver have just followed. Targets are $2000+ for gold, $21+ for silver and around $54 for GDX. At that point – take profits, and prepare for a correction.
You Go Northstar
You have been steadfast in you belief in PMs
🙂
Thanks Fully, but all I do is gather the evidence 🙂
Not true. Not close.
There are multiple ways the evidence could have been analyzed — and was analyzed — and presented — by others.
You could still be proven to be badly wrong at a critical point, but I rather suspect not.
The question of the next time to sell or lighten up significantly will be interesting.
Very kind. Thank you Karl.
You give great advice. Clear, simple and chart based. I ought to paying for it! $2000/oz and I jump ship and swim for land.
Thanks Tim. Once this move is complete, it’s right to turn defensive, but then the real fun begins. This has all just been a huge ‘basing’ process, preparing us for the huge moves to come.
AWESOME Northstar! Side question: I can’t remember your take on $SIL or $SILJ… did I miss you charts and targets on those?
Hi Patrick. I’ll take a look at $SILJ soon.
Thanks!
Final act of Act 1… Actually I think of it more akin to your fellow statesman Winston Churchill’s description of the end of the beginning. Now we shift gears into the overdrive stage… $2500 here we come before the EOY. Can you imagine where the stocks will be?
Nice charts NS! Now check the weather maps and tell me when this infernal Saharan dust will be out Texas 🙂
Plunger, I got into PM’s around 2003-2004. I methodically built a physical position for years before I got into stocks so I missed that great leverage in early 2000’s. But I got my stacks at great prices. I started buying stocks probably around 2008 and rode them into 2011, sold some, got stuck with others. Right now a lot of these miners aren’t nearly where they were at our old 2011 highs. So if we go $2500 by EOY and the miners play catch up and surpass the 2011 highs. Then wow!
Indeed Plunger – a surge ahead, then the curtain comes down on ‘the beginning’. The next leg (after a correction) will be fascinating to watch. I’ve enjoyed the journey so far 🙂