Confirmation
The price action in gold and silver and the mining stocks is confirming that the bottom of the correction since the early August highs was Monday November 30th. The pullbacks have become less frequent and more importantly less severe and more fleeting. Often down overnite they reverse even before the markets open in NY. If you haven’t gotten back up to full positions I urge you to do so, today. Those who use leverage either in the form of margin, futures, leveraged ETF’s and or options can keep those tools on the shelf if you are not totally convinced, yet. I propose that pullbacks will become even less frequent, less severe and more fleeting going forward. All board, onward and upward!
Dissent. But I appreciate your persistence.
I do believe we have a decent rally coming.
Just not yet.
After that however … I’d better shut up, or I’ll get pipe bombed.
I’d call a day like today “severe.”
Jumped the gun a bit, methinks…
Most severe day since the Nov. 30th bottom. Why do you think I chose this morning to post. This is the buying opportunity. Some of my indicators are already turning positive. The UPSIDE is going to be explosive. Snooze you loose.
I’ll elaborate a hair. I have today’s decline as counter trend, short term (with IT trend potential).
But we should recover from this .. BRIEFLY.
I’m expecting to get a signal NEXT WEEK for the resumption of the ongoing LT downtrend from Aug/Sept.
PS — also starting to get “Last Call” signals for intermediate SPX longs now too. (Probably for a substantial pullback. The final highs are still likely ahead.)
The comments regarding the bottom’s in almost always presage another bottom.