Saturday, June 23, 7:50 am EST. What in the world happened to this week that I didn’t post anything since last Monday, the 18th? I couldn’t believe it, when I saw that!
So, what was I doing all week? I don’t really know. I have no excuse. Fortunately, for you, you all get precisely what you pay for! If I were trying to derive an income from you for this. If there was a charge involved for this service… I’d be negligent, and I’d be guilty of letting you down.
So, what did happen this week… well, just about nothing. But, let me state that I have some true achievers, some outperformers, among my miners. I want to list those that are doing extraordinarily well. Understand, we’ve some ‘turning-point’ dates in the charts, that are clear, now, in hindsight. Those dates are 2/9, 3/1 and 3/20. I’ve noted 3/20 quite a number of times, and 3/1 several times. I’ve not said much, or anything, about 2/9, because it was nearly invisible. But here’s what those 3 dates together mean… a head-and-shoulders bottom, formed after the December ’17 lows, and the late January top. What we have are technical price bounds… December bottom, January top, and 2/9, 3/1 and 3/20 head-and-shoulders-bottom… We have a Bull Market scenario playing out very slowly, even sleepily, that we have been long watching… waiting for that day, and opportunity, when it’s going to launch into something truly serious, and hugely profitable for us.
For now, I have some good miners in AG, PAAS, PVG, RGLD, FSM, HL is slowly working out, again since 3/20, WPM and SSRM. My only miner that isn’t presently giving me any love, is CDE. It is so flat, and unmoving at present… but, when the time comes, I trust that it will. Now, nearly all these are doing better than the mining funds that I follow; specifically, SGDM, GDX and NUGT. So, I do know how to pick individual miners!
Beyond all that though, is this: The metals, gold and silver, as represented in my work by the symbols, GLD and SLV, both had a most extraordinary week, in that both went all the way down to very strong price support lines I had long ago put in place, and had been following and watching. Silver, on 6/20 and 21 this past week, tested support and it held, which had to be part of that reason why the metal popped as well as it did on Friday, regardless of other reasons given anywhere else. Gold, too, tested a big-time price support level that I had long-drawn from 1/27/17, 7/7,10,11/17, 12/12/17 to last Wed. and Thurs. Huge support held… and, it lifted again Friday… all the while, so many miners were doing so much better, which could have told someone that support was expected to hold.
Remember, In bull markets, the miners typically tend to do better than the metals, and in bear markets, they typically tend to do worse. The price action, and the chart price patterns of the metals and the miners are all saying this is an actual bull market that just hasn’t truly taken off yet to give investors and traders the big gains that we all should expect are going to come to us… when they finally do take-off. When? Perhaps commencing in this year of 2018. But, I, of course, can’t know that… But, I can keep watching!
Support has held, resistance is overhead. Resistance is not so far away that it could be said that if you waited until it was broken, that you’d be too late. Not at all! On the other hand, by waiting, and watching, and looking for the resistance to be broken, and for the volume to expand bigly, one can almost certainly join in, and experience huge capital gains in a relatively short period of time. That’s why I’m here. And, even if I don’t post daily, for some days at a time… I am NOT going to miss the opportunity, when it arises. You’re getting everything that you paid for! Do I feel guilty? Nah…..