<These old wiley* veterans stayed alive and thrived by trading every wiggle during the early transition from the deeply over sold state of the late bear market to the very early bull market.>
My primary point is that we've ALREADY HAD a great bull market in gold stocks for nearly three years. Sure, it's been stealthy, and has had a couple big corrections, but 500% is 500%, and I would define that as a "big bull market", not an "early transition" from a bear market.
finance.yahoo.com^HUI&t=5y&l=on&z=m&q=l&c=
I have more than a little problem with those who act like this move is "something new or young, ground floor", etc. Personally along the way, I never traded "every little wiggle". I pulled back a few times: summer of 2002, and January, 2003. In hindsight the Jan, 2003 pullback I made was somewhat unnecessary, but at least I quickly got reloaded in March, when I could see the kettle boiling. This one however, looks different (more bearish, perhaps terminal) than summer, 2002, and Jan. 2003. |
