Getting Close To A Bottom
Ever since the August highs in the metals I have been consistent in saying the correction was not over. For the last couple of months I have been saying that the metals were not likely to begin the next leg higher in their bull markets until around Thanksgiving. The price action over the last few weeks continues to confirm both of the above trends. However, the improvement in many of the miners, especially many of the rocks that I have recommended and ones that others have posted about are able to be bought when the charts show them near good support zones. The process is working and time is being eaten up while charts have largely moved from overbought with lots of downside to neutral or oversold with better upside potential. While I think the metals are likely to at least test their correction lows, many of the miners have likely made theirs. One that I have recommended before and am now doing so again, is GSV. It is at support at the 200 day mvg avg. and the chart is once again about to get tight and quiet. Buy here at .73-75.