Slow move up, very slow, more slow than I would like and desire. But UP, at the end. Some might call it "acumulation" or any fashion word to describe what market does for unkownn reasons, when it moves slowly. So here are the rhythms of this FOUR year corrective move. And now? walk or Burst (again), fly or Die (once more). I chose the first.Is my choice. In fact I see the sector reaching all time hights again during 2025. It would not be a path full of roses. When has it been before? In a nutshell for this coming year: - Dollar mainly down. - Gold mainy UP - Miner mainly UP- And in addition to all this: - General Markets (S&P500) also UP to all tme hights. - China (Shanghai Index) up, in a explosive manner.
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Today I exit my long position in GDXJ (JNUG adnd GDXU). Will enter long again in a week or so I guess
Thanks for the update and for sharing your chart. I see this as a pullback before more upside. Do you have a lower target for entering your new long position? I probably should have sold today so I could buy in lower, but I wasn't able to get out fast enough, so I'm still holding long.
JAY_c5velm
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@Bluesun_78, Hello. Inormally do a weekly analysis inthe weekend, And current one is pending. So far, considering the move IN GOLD daily and weekly, a possible WEEKLY correction is quite probable. Means gold coult retrase for 8 weeks or so till around 2100 With that in place, the most miners can do is fall the less. So, i am not short term so bullish now, as I digest this friday move. Once things evolve we all should have more clues. But now, i will consider enter a short in miners IF Monday /Tuesday they rise. The more miners can fall is back to 37$ in this period. So i expect some choppy times. I dont expect more thant than. And that is from now till corrections in the sector ends in that expected time frame (8-10 weeks). After that move up will continue.
Bluesun_78
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@JAY_c5velm, Thank you, I appreciate you sharing your perspective. I'll keep an eye out for your weekend update. I wonder if this conflict with Iran will cause a spike (even if temporary) in gold/silver/miners on Monday. We'll see...
bjorn2z
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Thanks for the update!!
bjorn2z
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Excellent call from December. GDXJ has blasted up from 31 to 43 in 6 weeks. Will it continue blasting up to 48? Or will it first fall and retest the down sloping resistance line as the new support? In other words: is today a good day to tactically buy jdst/dust for the very near term?
@JAY_c5velm, As long as the TOP of gdx and gdxj (both) from 2023 are not passed, is a good point to entry. Because the move up wont stop until that happens