Loading ...I just posted an article yesterday that included these two paragraphs–and today we saw a prime example of what the author was talking about.
Everybody knows, after all, that the sector is bearish, especially in light of the dreaded GDXJ rebalance boogey man. But sometimes successful speculators need to be open to outcomes that may not be readily apparent. After all, how apparent was the stock market top and gold miner bull in 2000? The economy was strong, the markets were booming and the nominal charts did not give many signals. Read below and see if just maybe there is a chance that the bear herds, tended so well by bearish gold sector analysts, might just be proven wrong in the coming weeks.
In 2001 into 2002 all hell broke loose to the upside and seemed to come out of nowhere. What’s more, the hysterical move upward was not driven by the 9/11 terror attacks. That took place while HGR was still well inside the bottoming pattern box as shaded below. The upside was driven by the failing economy that followed. With the current pattern’s right side looking like a bullish consolidation I want us to at least be open to the prospect that things can change quickly without [nominal] charts laying out a nice, neat road map