The Miners are getting pulled up by the Precious Metals in their Bear Market rallies. So the Gold Miners should out perform due to leverage on their balance sheets.
The price action is definitely corrective in nature, and the pull backs should be shallow because this is a small degree c-wave. So I'm expecting a top above the (a) wave over a year ago some time this Spring.
For a good video exploring whether to invest in mining stocks or the precious metals themselves, Mike Maloney has a well done video on the subject:
www.youtube.com/watch?v=_jV9iZtx...
In fact I recommend spending time watching all of Mike Maloney’s videos on the PM’s and money. They are all well worth the time…
The price action is definitely corrective in nature, and the pull backs should be shallow because this is a small degree c-wave. So I'm expecting a top above the (a) wave over a year ago some time this Spring.
For a good video exploring whether to invest in mining stocks or the precious metals themselves, Mike Maloney has a well done video on the subject:
www.youtube.com/watch?v=_jV9iZtx...
In fact I recommend spending time watching all of Mike Maloney’s videos on the PM’s and money. They are all well worth the time…
Trade closed: target reached:
This Idea worked out pretty close in both price and time. If one is long, it is time to start managing the position because the market is at a decision/inflection point.
Since the last move was pretty much straight up, it will either continue on or move side ways for a period of time. The best idea is to let your profits run, but tighten up or set some stops. Best places would be the bottom of the gap, or better yet below a 50% retracement of the last move ~23.
Since the last move was pretty much straight up, it will either continue on or move side ways for a period of time. The best idea is to let your profits run, but tighten up or set some stops. Best places would be the bottom of the gap, or better yet below a 50% retracement of the last move ~23.
