@ around 6pm tonight mt mars goes direct.
silver is almost at friday brexit highs
this rally could extend into next week , of course anything can happen.
i felt it prudent to cut some positions. and i will cut more . i cut all margin sometime this month, and now i am cutting to have cash. i do see a buying opportunity either in aug/oct i will wait no matter what the time for that to develop
i have been studying the gold chart of 40yrs ago. hadik talks about the 40yr cycle and 2 i traded through the end of that cycle. so its in my mind. i also expect the conditions of that time to be fairly similar to the present bull ie. i am looking for stagflation. this time there is not volker at the fed and interest rates will lag the conditions. and monetary policy will consider the very weak economic climate
the initial rally so far is about the same in % terms as it was then. wave 2 retraced less than .382 of 1 . 77 was a much bigger appreciation of price than 76 where the gold price had been cut in 1/2 of course that was an 8.6 yr cycle and this is 3x that or 25.4 yrs. so the correction took much longer in the present scope. time will become more compressed as we move forward. the economic backdrop is lugging around a mountain of debt
once the stagflation starts to express itself , it will become obvious that miners are the place to be. druckenmiller has an outstanding track record. if he is vocal i will be listening
dharma
Everyone I've read in this forum is selling or cutting back.
