It wasn’t that long ago that I thought precious metals and miners might represent the only decent bullish opportunity of 2016. Well, I kind of gave up on this prospect early last week, and I don’t touch this garbage anymore. Precious metals suck, and they will continue to suck until they don’t, which could be years off. Here is the ETF for junior miners, which cracked to a lifetime low today (get used to those words – – “lifetime low” – – if you follow gold):
As if you needed any more proof about how awful metals are (yep – lifetime low):
I’ve never had a more consistently bad experience with any investment in my life than precious metals. Every time I’ve touched them, I’ve wound up with less money. Let’s face it – – – all the tales ZH has been uttering for years about how “honest” money was going to have its day in the sun hasn’t transpired, and I don’t see any reason why it’s going to any time soon.
