Loading ...Reminders, from the past
I have been lurking for a while. For a long time there I couldnt get onto the site. I figured Fully had sold off the page and a kidney for some sweet sweet physical. Then I realised a VPN may be a solution so I have been using this and lo and behold.
Anyway, I have been looking at some past Plunger posts and this may be a timely reminder…
//
That correction is now likely completed and the next leg up is set to begin. It can be expected that this extension higher in the bull market in gold and silver could last perhaps 2 more years and see gold rally to $2,950 and silver to $50, possibly higher. This level of movement will then need time to digest. Perhaps a 2-year cyclical bear market would flush things out and lay the ground work for the final “Fourth Turning” bull market. This would be the one that reaches levels which we cannot even conceive using todays frame of reference. I hope I can stay solvent to ride it.
//
Welcome back Wazcam !
Sounds like your IP was blocked for some reason
We will Never sell out to the dark side
We have been offered Commercial deals over the years but AuDept and I have always said NYET
That’s Not what Goldtent is all about.
There is NO “Freedom” when one is captured by the Borg 🙂
Looks like Plunger underestimated this “Leg” but he was spot on about the direction
If you want to share your experience with the lock out
gmag@live.ca
Hey Fully.
He got the quote from Dan Oliver I think…something to consider.
I am trying to marry this with other things like what Michael oliver is saying, I dont know how a cyclical bear would work here. However I feel a move like this especially in Silver would need a relatively small pattern to finally break on up. Gold has already done it but that handle took a while…
Regarding charts, defer to Rambus
Roger that
Rambus is watching for a potential backtest and fall away OR a new trading range and this bottom would be point 2 of the consolidation pattern…which is what I favor
I think a 3-6m consolidation will happen personally.
Yes…thats what this implies…a consolidation pattern with the recent top restricting and the recent bottom supporting
Oh, agreed. I just feel the consolidation will be longer than expected. On X there is so much frothyness.
I don’t pretend to know how long this correction lasts. But here are a few things to consider. Right at the end of this advance we got new money into the sector. This is now all under water now. Therefore it becomes a candidate for tax loss selling to offset NVDA type gains into mid-December. So there may be downside pressure until then.
Also I see this as possibly the break between Phase 1 and Phase 2 of this bull market. Phase 1 was the return to known values. On deck now is phase 2 where we see the market discounting improving fundamentals and earnings as well as multiple expansion as a result of earnings improvement, stock buybacks, dividends and metals price increase.
Recall that phase 2 is the longest phase and the most difficult to ride in. It won’t be the easy money which ironically is what Phase 1 is. The past 4 months (since the Rule conference) has been a pretty easy ride. Hold on tight because now we start making the big money if you have cost basis acquired in early phase 1 which I suggest started in Sept 2022.