Miners Are Acting Correctly
I posted for the public blog in Nov & Dec many times that I was expecting a strong move in Metals and Miners. It was Very unpopular and many were ( Understandably) quite nervous about entering and holding any positions, especially over the weekends. Others doubted the idea all together. In the premium strategies section of this site, I have been recommending Miners with proper ‘Set ups’ that were projecting strong moves higher and I was also giving strong reason in both Nov & Dec that buying then would pay off going forward. Bases were being built and could move up at any time. Still, it wasnt easy back then at the lows.
Some Miners have done very well since then. People are gaining confidence that maybe the move could be profitable for them too . Let me show you what we here at chartfreak have been looking at.
IAG , CDE , HL, AG were just a few that were recommended early on .
IAG ran from $1.40 to $2.50 and consolidated for a while. It ended up moving 100% off of the lows already. Last week it pulled back and reversed at the 10sma. These leaders are looking good and acting correctly , which adds confidence to our holding positions.
To further add confidence to the possible moves, lets review another set up recommended here .
I had recommended silver stock “AG” before it really showed signs of life.
DEC 23 – a second buy opportunity was presented still under $5 . Inverse H&S now had formed in the base.
See how AG has run since then. It just went over $7 today as I write
It’s important to note that we always get pullbacks along the way and recently when we had some selling on Jan 8 , I was asked why I wasnt selling to buy lower? I posted this and explained that in the type of run up that I was expecting, pullbacks can be shallow and just cause one to lose their positions. We may just tag the 50sma.
GDXJ was $26.32
GDXJ TODAY That pullback was about all that we got.
Currently over $29 & is showing strength, Again, although there will be pullbacks along the way, it may become a buy the dips scenario. At least for a while.
Meanwhile, wouldn’t you admit that many have been so focused on GOLD / SILVER prices that they were missing the move in Miners?
This is GOLD , many are watching that Blue Triangle for a break out. Then they may buy that break out ( possibly more “shorts” will have to cover). Well, it’s possible that GOLD is breaking out right now as I write. More buyers may begin stepping in if the break out is real and lasting.
I just posted some recommendation under the strategies tab , which is the premium service. I mentioned some good opportunities for those that sold early (Some dont like to hold into the weekend, and that is fine). One of my picks was up 6% when I spotted the set up , its up 22% now. Another is 11% and still another 14% Its not too late, a few are just ready to make a run higher in my opinion. I am confident that any that signed up for my services have made their investment back and then some if they followed my lead.
I hope this report helped some who may have had doubts when reading my earlier public posts regarding Metals and miners. I wanted to add confidence that the move in metals and miners has been a good opportunity already , and I believe further gains are coming . Some good bases were constructed during November and December, may you enjoy increased gains going forward, until the run is done. Thanks for checking in!
~Alex
I remember that call and it helped me feel better about staying in the PM market.
I nearly capitulated!
LOL Jim…I think we all almost capitulated , especially that GDXJ action .
Way to go Alex…very few were able to see or ride this one. Kodus.
Thank You Bob, your feedback was important too ; )
Good job alex ,i also was entering postion in miners(nove,decemb) but in wrong one AXU isnt climbing 🙁
Hi Dumani. I tried AXU on the MAY run , but it stalled fast after the first leg up.
I just took a look at it because you mentioned it and it does have potential to run once it breaks from the tight pattern. Some laggers will play catch up, you may want to Keep an eye on it if you’re not in it currently.
Tnx for the chart and the reply 🙂 i really hope it will catch up the rest of the miners ,praise the lord i have a good entry so i wont lose nothing on this ,just need silver to starting to run like gld and everything will be okay 🙂 best wishes buddy
Today you get your move : )