Bubbles tend to originate coming out of a major multi year cycle low. Metals had a chance to transition into a true bubble phase but gold needed to recover quickly after the Jan. crash. The Feb. rally needed to recover the all-time highs and then breakout. That didn't happen.
I was willing to give it one more chance. The April rally needed to recover the all time highs. We rode that rally in miners and recovered most or all the losses from our leverage. But it topped way too soon and we exited close to the top. We have been on the sidelines ever since.
At this point I think we missed the chance for a final bubble phase. That means we will have to wait for the next multi year cycle low before metals produce the next setup to produce a final bubble. That 8 year cycle low isn't due until 29-30.
There's been too much technical damage done to metals at this point. It's going to take months or years to base before it can produce the next momentum phase. You should ignore the gold touts telling you that metals are about to rocket launch. Metals are in a cyclical bear market. Not a secular bear market mind you, but a cyclical one that may last several more years. Once the cyclical bear market is finished then we will see $10,000 gold and $300-$500 silver. But investors will need to be patient and let this cyclical bear run its course.
It's time to look for other opportunities.
$PLAS.CN unfortunate that the CEO is not clear on the value of promotion to maintain the share price for when they need to raise - it's actually ignorance
Only 10% of miners remain above their 200-day moving averages.
Historically, readings this low have coincided with important bottoms for the industry.
Long-term-minded investors know what to do here.
https://t.co/PXKGwBqrto
@CoachDanGo Alcohol. If I showed up to a party with a 12 pack of Coke and proceeded to drink all of it, people would be asking me if I was okay. Totally normal to do it with alcohol.
still looking for position #3, always 3 different sectors and always enough near term catalysts
- $CDPR.V will be my last resource sector play ever, I have no idea why anyone would "invest" in this sector,
- If anyone has any ideas DM me and I will repay the favour