I just look at the weekly charts on Gold, Silver and the HUI and see us very far from relevant yardsticks like the 65 week MA (Aden Sisters), BB and previous Breakout levels. Gold in particular seems to always backtest ($575). the recent HUI looks like a small ascending triangle that indicates 405-420, so this looks like a window to sell 5%/15%/30%, depending on your style.
We have the TNX busting a move, the yield curve steepening, NDX & SPX is some sort of terminal wedge or ED-like pattern, RE in California tanking in RT (I get it first, not trying to be arrogant, but if people fold their cards, I see it at 30 days past due), Congress may swing Dem in Nov, new PMs in Israel, Germany, UK soon, Italy; Japan ending an era of ZIRP, and Jim Sinclair gets three major targets (529/612/682) all within in the same TV season. It just feels like a 2000-2001 sea change is happening here
maybe we go way, way higher like 1100 POG and I look like an idiot. I'm still long 40%-45 miners & bullion, but gold has a history of turning tail FAST and brutal, and i just what to keep some powder dry. I did sell VGZ, CEF, GBN and ANO a little early about 15-20% lower, but they were all good trades, and kept me from selling too much of my PM mutuals.
I'm a little guy, I don't think my miners ever got north of $100K |
