Monday, September 24, 2012
Today's action was relatively easy to anticipate but that doesn't help with the rest of the week. Most of the daily charts remain overbot and several more days of sideways or down action would be very bullish for the PM miners. Some of the miners have achieved a buy here but most could use some more side ways backing and filling here. I remain convinced that the risk in this move remains NOT overtrading your positions so do so at your own risk....as usual. The move off the bottom of these miners has been powerful....but when its over you will most likely be shocked at its intensity before we get a major pullback in this 10 year (so far) secular bull market. We remain in a modern supercycle debt collapse that will meet its destiny in a resolution that hopefully will not be cataclysmic but with a whimper and a peaceful transition into a new currency and economic regime...........I remain hopeful. For certain however the Moneymen are going to print this into another realm of reality. That will remain the fuel for this trade. Ignore the talking heads and concentrate on your trade.
If we get some follow up side ways trade this week then I am happy. If we get a strong push up the next few days then maybe a little profit taking. Remember end of the month window dressing. gl all
Posted by kliguy38 at 9:52 PM