Loading ...Little Bounce then new lows
I really hope that they will be WRONG , unfortunately I’m afraid they will be RIGHT . Until now there is only a sure thing : PM’s are in bear market since august 2020 as Plunger pointed out in a comment yesterday.
Worst sector EVER !!!!
He’s a mean one Mr. Grinch…no rally in PMs until next year, maybe January. Look for gold space to continue lower into last week of December as Mr. Grinch puts it to all the bugs.
Sirs Mamare and JSK,
I also read Bob Hoye’s latest today before I saw this post … a tradable bounce of 7-8% in silver … but what after that?
I’m getting more and more convinced that whenever PMs to catapult / have a big bounce, it has to be a black swan event now.
Even Michael Oliver, who has very balanced bullish views, has seen his momentum indicator fail in the past few days, having come soooooo close to the long-awaited bullish signal. In fact silver did achieve his momentum-turnaround point, but then failed again. I’m awaiting his updates anxiously.
All charts are not showing any bullish pattern any time soon.
And I have too much respect for Sir Plunger, though I may disagree with him, and being the stubborn PM-perma-bull-novice that I am. For me, being bullish will be defined by adding more cash to buy more PM shares. If I rotate my money into newer PM juniors, and my pile of hard-earned cash via my regular job, keeps growing, I consider myself to be on the sidelines … my somewhat weird custom definition of sideline … LOL
GL
Probably the only and I say that again ONLY “positive” thing about PM is the sentiment that is deeper and deeper underground but I bet that it can reach the centre of the earth before a bull market (if ever) will start.
Gold stocks sucks!