First I would like to thank Sir Plunger for his in depth Weekend Report on the PM complex. Regardless if he is eventually proven right or wrong is not the issue. The issue is to keep an open mind as to any eventualities the markets throw at us everyday.

One reason so many investors fail is because they are so narrowly focused on their assumption that the markets have to act a certain way and they can miss an important change if it occurs. I’m not saying this to be derogatory because I’ve been following the PM complex since 2002 along with everything else for much longer, but most gold bugs can only focus on the bullish side of the PM complex and can’t see the forest for the trees.

When I exited my last big PM Stock Trade Portfolio back in June, that was the last thing I wanted to do. Right or wrong I had to follow the discipline of what the charts were saying and to keep my emotions out of the decision making process the best I could. As of today I still don’t know if I made the right decision or not and won’t know until I’m either proven right or wrong. The main thing is that my investment capital is safe and sound waiting for the next setup.

You’ve heard me say this a million times in the past that we are playing a game of psychological warfare more than anything else. A good example is how many investors refuse to believe the greatest bull market in history has been going on since the 2009 crash low in US stock markets? It’s staring them right in the face everyday and they refuse to believe what they see because they believe the markets have to act a certain way. If the markets don’t act like they think then it has to be manipulation or some other ill conceived reason the markets aren’t behaving in the right manner, it is always the markets fault. I’m an equal opportunity investor and not married to any sector so that gives me many more opportunities to find other strong markets to trade.

The only truth in the stock markets is the, PRICE ACTION. The price action is based on millions of investors and their decision to put their capital to work in the markets. If more investors are bullish the markets go up and vise versa. It is not that complicated. Finding a low risk entry point or exit point is the toughest part of trading plus riding an impulse move without getting shaken out at every small decline can also be tough.

Above all keep an open mind regardless of everything you read and follow the price action and take control of you emotions. Sir Plunger’s Weekend Report, caused some investors to question their own convictions as to the validity of the bull market that so many believe the PM complex is in. It may take weeks to months before we have any confirmation that the 2nd leg up in the secular bull market that began in early 2016 is still viable. In the meantime protect your hard earned capital unless you are a long term buy and hold investor that can ride out the storms that rain on our parade from time to time.