With the summer doldrums coming to an end as we head into the long Labor Day weekend, the metals and mining stocks..... THIS WEEK IN MINING: $IAU, $AGG, $AUN, $BRC, $CBR, $FCO, $ITRG, $KNT, $KL, $LGD, $SCZ, $SILV, $TXG, $TUD, $VZLA, $VGZ
There’s no need to try timing a bottom. If we can capture the middle 60-70% of the next move higher, we’ll make multiples of what we have invested now in mining stocks.
The extreme gold-futures selling that crushed gold destroying gold stocks’ summer looks to have passed. Speculator positioning is very bullish for gold, with potential selling largely exhausted. That paves the way for big buying..
Given the immense H&S action on my weekly gold bullion chart, investors should prepare themselves for a scenario where gold and silver mining stocks may be poised to begin not just any rally but… The greatest rally in the history of the miners!
I’ve been suggesting for some time now that the PM complex is trading at a critical inflection point where they can have a big move in either direction.
