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<\/a><\/p>\nLets take a look at gold stocks. I’ve picked GDX, but it’s the same argument for GDXJ and HUI…<\/p>\n
So I would be adding to my holdings on the basis we broke above declining resistance in the 21 area. For the record, I went all in when HUI was around 120 in early 2016. Since then I’ve added some Uranium holdings, and a few other random stocks which struck me as good value. As you can see above, gold stocks have a huge amount of catching up to do. They need to rise another 30% to find themselves in a similar position to gold itself. If you are very cautious\/bearish, you might wait until we break through that 32 region. A better policy would be to enter when gold clears $1400. GDX should still be well below 32 at that point, but I would view $1400 as a ‘point of recognition’. When we reach that point, I expect PM stocks to make very rapid advances similar to 2016. Here’s a look at the silver chart…<\/p>\n That, to me, is one incredibly bullish looking chart. I see little reason why we can’t be approaching $20 later this year. Seriously, this is unfolding right in front of our eyes and it’s getting little or no attention. That’s good, very good. I would hold tight if you already have a position, or if not, I would start to build a portfolio at the $1400 breakout,\u00a0 and only sell if we were to move back below the ‘turbulence zone’ marked on my chart. In terms of which companies – I would stick to those listed in the HUI\/GDX\/GDXJ. I study the individual chartology and try to read as much as I can about the way the company is managed. Personally, I would spread risk across at least 20 miners, so that if one were to go ‘tits up’. it’s not the end of the world. Could we see a total failure here, with gold plunging to $1000 or less ? In a word – yes. I view that as very unlikely though. This has all the hallmarks of the next stage in the PM bull. Good luck to you all.<\/p>\n","protected":false},"excerpt":{"rendered":" OK, so I’ve shown that gold is breaking out in front of our eyes in all major global currencies. The chart in US Dollars might be the last one to pop. Here’s where we are now… Lets take a look … Continue reading <\/a><\/p>\n<\/a><\/p>\n