/biz/ - Business & Finance

>>21284520

I won't be trading in and out. We had sideways movement in SILJ and GDXJ for a month before, and they actually plummeted 18% from their peaks. But both then suddenly soared upwards. We have had sideways movement in the miners now for 3 weeks, and the current plunge is only 13% from the peak. I don't want to miss the next move up, if there is going to be such a move. The risk is to the upside from my point of view.

NEM is the only miner in the S&P 500, and the largest silver producer in the world; but is now trading lower than it was on 22 May, when silver was $17 and gold was $1650. That gives you an idea of how absurdly cheap these mining stocks are. Again, SILJ is now trading as if we had gone back to $18 silver. People forget that we are still at $25 silver.

Look at how quickly people panic-sell their mining stocks the moment silver takes a small downturn. Even though it's still up 2.5% on the day. Bull market is still at the absolute bottom. The same people who are selling will have to buy back again when it goes up another 5 or 10%.