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I measured out the last big move of GDX on the weekly chart, and from a similar point to where we are now to the top took a little more than four months. That is not to say this one will replicate that one. It could be higher and longer or even shorter, but it gives you some idea of the time involved.
Much appreciated, Sir North!
I’d like to say that I still feel honored to have my name as the subject of your post/reply to my question in another thread.
I plan to stay humble this year too, and keep learning from the greats such as you.
Now as far as the timing goes, yes, partial profits on GDX (and/or juniors as well as senior PM miners) MUST be taken during this rise, as at least I suck at calling tops.
But, I’d like to hear your take on this aspect: around March 2021, and heading into Q2 2021, the broader markets are expected to experience a sharp drop.
So, does your TA for GDX expect a sharp drop after the leg up, or a short, small drop and then a bigger leg up?
The answer to that will determine, for me, the “scale” of profits that I could take in this CURRENT up move.
Thanks,
GL
I will be watching the Weekly chart for a top. It certainly signalled a top on the last run. I would like to try to get out as well. But it is not at all easy, as you know, to call tops or bottoms. I will let you know when the Weekly is beginning to look like a top.
Heartiest and sincerest thanks, Sir North.
I visit the tent many times a day. Will try my best to not miss your updates.