I've said this before but I think it's time to point it out again because I see many investors wavering here. WD Gann pointed out that the longer it takes for a commodity to breakout to new highs the greater the rally tends to be. Take a look at that chart folks. That's a 27 year consolidation. Let me repeat myself: 27 YEAR CONSOLIDATION!!!!! Now let me point out again that the average rally after a break to new highs is roughly 180%. I'm going to put this as gently as I can. You have to be an IDIOT to lose your position now. The dumbest thing anyone can do at this point is to try and time these short term swings in the gold market. This is the time when gold can and will start moving $20, $30 maybe even $50 at a time. If you're not in you risk missing the move. So what if gold pulls back here? It just did pullback $40 bucks. How many were able to time the exact bottom of the correction? I dare say none of you did. I'm also going to say this as gently as I can. Take your damn position and quit worrying about these swings. After all it is a bull market.
Gold Miners - What next?
6 months ago