Whatever you do, don’t make this mistake in the gold bull market.
A Very Important Lesson
June 23 (King World News) – This is a very important lesson about not losing your position in the gold bull market from Bill Fleckenstein: The miners were very strong out of the gate (Monday) but then they gave up some gains as the metals did. Then they flopped back and forth in a wide range, before closing with decent gains nonetheless.
Not Throwing Away Your Shot
Many people I think are aware that, from a seasonal perspective, the mining complex tends to do well in the late summer and early fall. With gold breaking out over $1,750, we may be in the early stages of that leg higher. I do think it’s interesting that, based on what I see on Twitter, there are so many “pundits” who are bulls in the long term about the metals and miners, but are negative in the short run, and many of them have been for quite some time.
This is exactly what happens in bull markets: you get tricked into playing for a correction, but then it doesn’t quite develop as you had expected and you get left behind. That doesn’t mean that’s exactly what’s going to happen, but I think it’s quite likely that it will. There’s also a possibility that this could be an upside head fake and there will be more thrashing around before gold finally takes off, but I think all those bulls who have been tricked into abandoning their positions are going to have a hard time getting back on board, regardless of exactly how the day-to-day machinations play out.
Billionaire Eric Sprott Buying
To find out which company billionaire Eric Sprott just bought a 12% stake in click here.
***To listen to James Turk discuss the failure of London Gold Pool II and the price of gold hitting new all-time highs along with silver click here or on the image below.
Look At What Is Propelling Gold And Gold Stocks
***Also Released: Look At What Is Propelling Gold And Gold Stocks CLICK HERE.
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