We are on the cusp of an epic move in the precious metals. How do I know that? I don't. Not really a clue actually. I just pulled the headline out of my ass like a lot of KWN salacious headlines. By the way KWN has excellent guests but Eric does take liberties with his headlines.
Everyone in the metals trade is on edge. After years of manipulation we had a massive bull run for four months with no significant pullback for the scared investors to buy in. It just went straight up in the miners until we were oversold on the weeklies for a one month correction then soared again. You know the story. Most traders that held had 4, 6 even 12 baggers on some of these beaten down paper trades.
Do I know if miners are going up this week? NO. Do I think they are going up this week? No. The only think I believe is they will be going up in response to a number of factors that I have no control of. I do believe they are in a long term bull market now but it is going to be the hardest bull for you to ride you can imagine. In the end a lot of money will be made on these pigs if you stayed on the ride and if they keep the casino open.
That will be the trick. To keep the casino open. Again, I have no answer for that. They may very well shut this game down with almost no warning for you. Risk is everywhere so be forewarned, playing in this game will be like no other time and at some point you need a plan to get out the door with your chips.
Last year I believed they would do what they did with the shares by letting no one in on the trade without a pullback and I gained most of the move and even with the pullback at the end of the year had a triple in my portfolio. I hope this year has a great bull run for all of you but it will not be without pain. Sell rips buy dips.