I've added the COT sell signals to the chart so you can see how the commercials usually lead any correction by at least several weeks. As you can see on the weekly chart all the corrections have been associated with money flow and momentum divergences, usually both. Also excess optimism as evidenced by penetrating the upper Bollinger band and overbought RSI levels. Until I get a sell signal from the big boys I've got to view any pullback as a buying opportunity. We are in such a strong bull leg and coupled with an extremely strong COT long signal that shorting before a COT sell signal seems very dangerous to me.
Gold Miners - What next?
10 months ago