My brain says dead money for the rest of the year.
My heart would like nothing more for the metals miners to head to the moon.
Nothing is easy in the space. Most serious uplegs are usually preceded by a waterfall decline. There is no such thing as a gradual ramp higher in this space–they will never let it be that easy. A move of epic proportions is coming, but I suspect it is going to come much, much later than anyone here suspects.
Yes, we got a waterfall decline, but there was no V-recovery. Even the 2016 low was marked by an absolute whopper of a 1-2 week drop before it rebounded violently.
I am cautiously optimistic however that the lows in the miners are in. I am anticipating rangebound trade that will end with a sharp drop to the lower end of the range later in the year before rebounding and the miners finally breaking out for good in 2023. That is 100% just an educated guess. I hope this current move results in a breakout in the miners, but I have serious doubts based on some chart indicators I observe.
LOL!!!
It lasted almost 3 hours.
My brain says dead money for the rest of the year.
My heart would like nothing more for the metals miners to head to the moon.
Nothing is easy in the space. Most serious uplegs are usually preceded by a waterfall decline. There is no such thing as a gradual ramp higher in this space–they will never let it be that easy. A move of epic proportions is coming, but I suspect it is going to come much, much later than anyone here suspects.
Sir Nautilus,
In many juniors (inherently volatile) I saw a decline of 30%-45% even as gold and silver moved up.
Does that not qualify for a waterfall decline?
GL
Yes, we got a waterfall decline, but there was no V-recovery. Even the 2016 low was marked by an absolute whopper of a 1-2 week drop before it rebounded violently.
I am cautiously optimistic however that the lows in the miners are in. I am anticipating rangebound trade that will end with a sharp drop to the lower end of the range later in the year before rebounding and the miners finally breaking out for good in 2023. That is 100% just an educated guess. I hope this current move results in a breakout in the miners, but I have serious doubts based on some chart indicators I observe.