Next.....this is a major move in the miners and PMs. As many have mentioned this is not to be overtraded. There are so many cross currents of danger right now that saying PMs are a "Safety Trade" is almost a joke. Just as Turk said on KWN today ....“There is a lot of money on the sidelines waiting to enter a market in which physical metal is tight. When you couple that with the amount of shorts looking to cover, gold and silver are not being given any opportunity to correct in the normal way with a typical pullback.
Buyers are not giving the precious metals a chance to correct. Their price just moves sideways, thus thwarting the selling from central planners who do not want to see the precious metals move higher. A sideways consolidation is one of the strongest patterns you can find in a bull market, so the way gold and silver have been trading bodes well for more big price gains in the weeks and months ahead.
In fact, Eric, I keep asking myself whether this remarkable display of strength is telling us something important. Is it a subtle signal that we are at the beginning of an uptrend that will not only lead to new record highs, but is this the beginning of the move that in the next few months will result in the ‘big one,’ when gold and silver buyers totally overrun the central planners?
Only time will tell of course, but the ‘big one’ will be spectacular. Gold and silver will just keep climbing in panic buying because people will be rushing out of all types of paper in order to protect their wealth by buying physical gold and physical silver.