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I have mentioned before there is a very recognizable pattern in the gold stock indexes. I have been using it since last September. At the end of most months perhaps due to Comex expiration there is a very tradable rally. If you look at a daily chart from last August you can clearly see seven of the nine months follow the pattern. We are currently in day 5 of the eighth such rally. One of these rallies, perhaps this one, will be the next leg of a big tradable move. It is hard to believe that we are in a bear market for anything with all the credit creation going on world wide. The CPI comes out next week and I am guessing 6% annual inflation which will make real rates on the ten year be minus 4.5%! I live in a north Dallas suburb and there are no houses for sale anywhere. A realtor/actor that I use tells me he is going to have to get a job because there are no listings. I guess good money goes into hiding applies here.
Interesting Noman…thanks
The wild card here for traders is the US Dollar…Oversold bounce can last for a while…It’s on the verge
Remember the fed defacto raised rates .05% and signalled more …albeit in 2023
Interest rates are dropping hard so no support for the dollar there. Hard to believe the Fed will pull another 1937 and raise rates which killed off the economy.
It seems to me that except for Noman and Chartmaster, both of whom I consider astute, and a few others, people have been leery of the PM markets. I can understand caution, especially in the PM stocks as opposed to the metals. If things go crazy you’d expect even the best of the PM stocks might dive.
I may have just jinxed everything, but I have been buying myself. I have recently added to KL and WDO (in which I’ve had positions since they were babies), NEM, and a few teeny-tinies. Perhaps I have just collapsed the PM market.
If you positioned yourself in KL and WDO since they were babies, you should be in damn good shape!
OH NO! Karl is bullish and buying.SELL everything and hide under the bed! LOL, just kidding Karl. You are a true contrarian and should do quite well on your additions.