The Bull Is About to Gore
Funny how depressed all of the traders are in the metal’s trade. You would think the massive move in the miners off the 2015 bottom would have left the holders of these shares in a better mood, but sentiment has been destroyed. Maybe worse than the 2015 December bottom, and I thought that would be impossible to worsen. If you had bought and held in December of 2015, you would still be up a double or triple maybe more, depending on which miners you held.
Of course the better course of action would have been to sell after you had a 7,8 or 10 bagger last year. Of course most of us didn’t take that course of action. What’s more problematic is that many retail jumped on the miner trade after it was obvious it was well into its new bull market and have been crushed by the pull back. That is how a key sector bull market works. It does not want anyone on the trade that doesn’t “belong” on the trade. They have NO intention of letting the dogs get a bone on this sector. It will be a cold day in hell before the give you a CRUMB off of this table.
I’ll stick with my pathetic strategy of staying long in this sector and will take everything the boyz throw at it, but I’ll take my chances compared to owning the ponzi pump stocks like Uber, Netflix, and Amazon. I also think the digital currencies will have a future but right now I smell a lot of pain for this tulip trade so beware.
Just remember how quietly and how powerful the initial miner move was in 2016. It wasn’t until well into the move, that you really started hearing noise on the miners. Stay tuned. If you have to play paper, you’re early in this bull move, so enjoy.
Source: http://kliguy38depression2news.blogspot.com/2017/08/the-bull-is-about-to-gore.html
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