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Last weekend, I did a premium post cleverly titled Five Miners which featured five precious metals miners that looked bullish to my permabearish eyes. Just for the hell of it, I added a portfolio to my spreadsheet to track how these five picks did. Now, not even five trading days later, they’re doing nicely with an annualized 216% return (!) The standout is DRD, and I suspect all five of these will continue to do great.
A few days ago, I did a premium post about five precious metals miners that I liked as long positions. They’re all up since then, and I think their prospects are greater than ever. Go, gold, go!
Gold’s current bull market phase has been somewhat muted, compared to much of the 2000-2011 phase, when it was loud indeed. Much of that can be attributed to the fact that gold is still flatlining in relation to the S&P 500 and other major stock indexes (it has been rising since 2021 in relation to lesser and broader measures, like Small Caps and the Value Line Geometric Index), whereas gold boomed vs. SPX from 2000 to 2011.
(more…)The long-term charts are all saying the same thing. Long gold. Short stocks. Whether it’s silver, gold, the Dow Composite, the Russell 2000 – – mix ‘n’ match as much as you like – – but if you divide some kind of broad equity index by some kind of precious metal, you’re going to get one of these massive reversal patterns that has stood the test of time for decades.
I’ve been delighted at the ascent of precious metals lately. However, I think it’s awfully stretched at the moment, so I’ve put in a short-term trade (November puts) on GLD in anticipation of a retracement of the gold futures back down to its 50-day moving average.
