Ladies and Germs I love it when my pain becomes your gain, and thanks to my “way too early” entry back into the precious metal miner market with both hands full of ham, you more cautious readers will have the opportunity to enter into the severely beaten-into-disability gold and silver miner market, which we’ve always characterized (lovingly) as Baby $HUI. One can best participate broadly in this market using GDX and SIL (and to a lesser more risky extent, GDXJ).
I am hoping the following chart will show up, as I am posting it on the rogue computer, but if not I encourage you to look at the twelve year monthly chart for $HUI, which limns the extent of this current bull in both gold and gold miners:
Note how we are oversold to an extent not seen since the beginning of this very bull… in fact, to an extent even deeper than in late 2008! That’s pretty incredible folks and indicates a strong ability to bounce hard here, provided that long term bull line holds.
Now I do expect we’ll get a pullback and maybe even two from this strong resurgance, as the various bottom scrapers and chicken littles bail with a quick profit, so be cautious. Go small here in this first wave, no matter how tempted you may be to go all in. You should have plenty of opportunity, all the way to the $500 mark and maybe even $520 on the index.
Best of luck and fortune to you all.
29 Responses to Ten Year Opportunity?
I am feeling like that guy in the picture.
His slippers did him in long before he ever arrived on the field of glory.
I like the getaway carriage in bg: to the chateau!
That is an illustration of Shakespeare’s “Duel in the Streets” quote from Romeo and Juliet.
It’s about time you came back here to take care of this stuff. Your absence allowed all these declines to take place.
Uhmmm, can one of you smaaaht kids tell me wtf this means (other than GSS is getting kicked in the nuts)
Golden Star Resources Enters Into Debenture Purchase and Exchange Agreement
Looks like they are refinancing their senior notes at a higher rate of interest (5% vs. 4%).
Taking down almost $3mm more than the amount of the refi… I hope that’s not all IB fees…
and a nice bounce it shall be.been sittin tooooo long in exk.
Senator, as always, we appreciate your long view and wise counsel on the matter of the metals. However, I believe that the painting is Jean-Louis Gerome, 1857, “Duel After a Masquerade Ball”, and does not specifically reference Shakespeare’s Montague/Capulet street duel in Romeo and Juliet.
I saw it as an illustration in that context, but there was no attribution in the picture…
Oh, I gotcha. It certainly does illustrate getting bloodied, as most of us are, in the current market.
I’m already loaded to the tightly squeezed upper heart ventricles, so if we get a pull back now, I plan to hold and hope that these old ventricles are strong.
Never liked gold and silver but I agree with you, buying gold stocks today with a stop has a very good risk/reward ratio – possibly the best op in 4yrs.
Thanks for the update. Think I will look to pick up some more GDX if it gets in the 40s again, otherwise i have enough along with SLW IAG and EXK anyway.
Can’t see how the bull market would end when we are clearly on the cusp of more printing and at least more accomodative policies worldwide
Question, is anyone buying or considering coal stocks here ? Pcx has a 3 handle…
I’m right in there with you, Senator!
re: PCX, just news but…
How happy are the people at Belmont this morning? Should be a fun run. You should come up for it. See your new niece, your motha, and possibly, history in the making. Your own personal triple crown.
Well, funding the down payment and closing costs for my new home with my GSS holdings will obviously have to be ‘re-thought’.
DMG! I share your sentiment… If you didn’t see, there was decent buying by four insiders, 300+k shares.. so perhaps this current flogging is near completion.
Hang in there sir.
Bought another truckload under a buck…
I will go down with the ship.
you have a crew, I’m not puking my shares. Nice volume today!
Good morning, so we are restesting last week lows, today should be very interesting.
hope you’re doing well my friend.
Happy Birthday, Senator!
Hopefully you and Le Monsieur are toasting each other’s claim to May 25 with a glass of Pappy Van Winkle
Happy Birthday! Wish you all good things sir…
Hope you’re having a great summer.