So What's Next?
BOOM! Gold broke out. Big fochin deal. You’re either already in the miners or you’re frozen on the sidelines. If they pull the miners and gold back over the next few weeks to test their breakouts and do a breakdown/fakeout then you’re sure you were correct in freezing on the trade. If they form a short term bull flag with a smaller pullback……you’ll still freeze watching. If they jack the trader through 1450 next week then you’ll freeze on the sidelines waiting for a pullback to 1400 or 1360 before you buy the miners. You don’t remember in 2016 do you? Gold pulled back on its first rise off of its December bottom several times and on many of these pullback days, the miners were hard green. By the time gold had risen 26% off its bottom many miners were up 500 to 1000%. Of course these little loved juniors weren’t widely held and no one even talked about it on the financial news media.
I didn’t know that the miners I held would be up 500% in less than six months in December of 2015, but I did know at the slaughtered levels they were at, I preferred sitting on their garbage than a market that was overvalued on every metric. Eventually they ripped the miners to shreds (again) and pushed gold back to a dead asset level, crushing the newbies that jumped on in late 2016. They don’t want to see a gold miner ever again lol. As I have said before even with a major beatdown my portfolio still has managed to stay 250% above the terrible low of 2015. The decision to hold in 2015 AND in late 2016 is based on the reasoning of WHAT asset class I prefer to be in and for me cash just isn’t what I consider a safe asset…… The Fed is in a jam. If they strengthen the dollar here (and they can) they will unlock the gates of hell worldwide. If they don’t dump the dollar (over the next few months) then watch out ladies and gentlemen…..we will be in recession and dying fast.
What do I see next for gold? I am serious when I tell you I HAVE NO FOCHIN CLUE. I am serous also when I tell you I really don’t give a shit what they do. The end game is the same. Its dollar devaluation and its gold higher. It won’t be straight up but you could get caught flat footed trying to trade this and miss out on the major squeezes that cost you dearly. Thats their game. Most of you ain’t even close to being good enough to trade against them here. I
know I am not. Let me be clear…..my portfolio was destroyed in late 2015. So when it did go up 500% 6 months later I was only up 25% over its all time high from 2012. It was painful holding but I felt it was my only way to play it. Those reasons are complicated and not helpful for most of you here.
I know until we’re over 1450, they could just chop this to hell for several more weeks even months to make you puke up your leveraged positions. On the other hand ripping this to 1500 in a couple of weeks before they put up a flag would also CONfound newbies as they get chewed up at that level. I repeat, I just don’t care and I’ll sit tight and enjoy my life and babies and not get caught in the whipsaw. I just hope Mr. Orange doesn’t pull the trigger. gl
Source: http://kliguy38depression2news.blogspot.com/2019/06/so-whats-next.html
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